Cameroon Ordered to Pay USD 600 Million to Sundance Resources in Arbitration
An ICC tribunal has ruled that Cameroon breached its obligations to Sundance Resources and its subsidiary, Cam Iron, regarding the Mbalam-Nabeba iron ore project. The tribunal awarded Sundance approximately USD 616 million in damages after Cameroon failed to implement an exploitation permit for the project. Sundance had initially sought up to USD 5.5 billion in damages. The ruling follows a decree by Cameroon in 2022 that contradicted an ICC emergency order, granting the permit to another entity. Sundance, along with its legal and financial partners, expressed satisfaction with the tribunal's decision. 
