“The Republic of Congo, Sundance Assets Restricted and Congo Iron SA want to announce {that a} mediation has concluded and resulted within the execution of a conditional binding confidential settlement settlement, which is able to settle and convey to an finish the continuing dispute,” the agency stated in a press release.
The Mbalam-Nabeba mission straddles the border of Congo and Cameroon.
Sundance is in a separate dispute with Cameroon over an iron ore licence.
It stated in a July 2 assertion that proceedings towards Cameroon had been scheduled to be heard by the Worldwide Chamber of Commerce in Paris on January 27-31, 2025.
“The Conditional Settlement with Congo… is not going to have an effect on the corporate’s ICC arbitration towards Cameroon,” it stated.
(By Anait Miridzhanian; Modifying by Bate Felix and Jason Neely)