Sundance Resources

Sundance Resources Ltd is a Perth-based iron ore miner whopse main asset is the Mbalam Iron Ore Project in central west Africa. In June 2010 all the company's directors and some other officers were killed in an air crash in the Republic of Congo. In 2012, Sundance said it was being acquired by China’s Hanlong Group, but the deal has been delayed, apparently because China Development Bank was reluctant to lend Hanlong the money for the purchase because iron ore prices had fallen sharply.

Former executive of Chinese firm Hanlong Mining wanted in Australia on insider trading charges

Steven Xiao (left) is wanted in relation to 104 offences linked to alleged insider trading. Calvin Zhu (right) was sentenced last year to two years and three months in jail on related charges.

Australia is seeking to prosecute a former executive of private Chinese firm Hanlong Mining Investment on insider trading charges after he was arrested in Hong Kong, the country’s corporate watchdog said on Tuesday.

Wednesday, 15 January, 2014, 8:38am

Sundance to conclude iron ore partnership talks by June

Australia’s Sundance Resources will conclude discussions with potential partners on its US$4.7 billion (HK$36.5 billion) Africa iron ore project by June and announce a chosen partner three months later, the firm’s chief operations officer told Reuters.

31 May 2013 - 12:48pm

Hanlong mystery upsets takeover

The missing chairman of Sichuan Hanlong Group may be under investigation for harbouring his brother, a murder suspect, jeopardising the Chinese firm's agreement to buy Australia's Sundance Resources.

26 Mar 2013 - 3:18am

Briefs, December 30, 2012

A privately owned Chinese company is finalising the acquisition of an Australian firm that controls a major iron ore mine in west Africa, a move that would give China a stronger role in setting global iron ore prices, Xinhua said yesterday. 

30 Dec 2012 - 5:24am

Hanlong courts SOEs for African iron ore deal

Hanlong courts SOEs for African iron ore deal

Sichuan Hanlong Group, an investor in highways and power projects, is in talks with Chinese state-owned companies to develop an iron ore project in Africa owned by Australia's Sundance Resources.

28 Dec 2012 - 4:14am

Sundance Resources agrees to lower offer from Hanlong Group after year-long courtship

File photo of tipper truck leaving an iron ore mine. Reuters: TIM WIMBORNE

Australian miner Sundance Resources on Monday said it has accepted a lower takeover offer worth A$1.37 billion (US$1.42 billion) from China’s Hanlong Group, a move that could potentially conclude a deal that has dragged on for a year.

The two firms agreed to a price of 45 US cents a share compared with 57 US cents earlier as iron ore prices hover near a three-year low.

27 Aug 2012 - 10:17am