CONGO UPDATE27 Jan 2026 15:23
Https://www.sundanceresources.com.au/IRM/content/default.aspx
27 January 2026
UPDATE ON CONGO PROCEEDINGS – CLAIM DISMISSED; SUNDANCE CHALLENGES
Sundance Resources Ltd (“Sundance” or “Company”) wishes to provide an update on the
Company’s legal proceedings against the Republic of Congo (“Congo”).
Sundance was notified by the International Chamber of Commerce (“ICC”) that, following the
hearing held in Paris in November 2024 and subsequent post-hearing submissions between
Sundance and Congo, a final decision had been made.
A Tribunal constituted under the ICC Rules has determined that Congo had a legitimate basis for
revocation of Sundance subsidiary Congo Iron’s exploitation permit due to non-development of the
project in the period 2016-2018 and, consequently, all claims by Sundance and Congo Iron have
been dismissed (“ICC Award”).
The Sundance Board, its legal representatives and the Company’s litigation funder Burford Capital
are shocked by the Tribunal’s decision. On review of the ICC Award, with the assistance of a King’s
Counsel in London, Sundance has identified a number of areas of serious irregularity in the ICC
Award that have led to a substantial injustice to Sundance and Congo Iron.
Sundance believes the ICC Award contains serious irregularity under s68 of the English Arbitration
Act 1996, which is why the Company has applied to the High Court of Justice, Commercial Court in
London for the Award to be set aside. Sundance and Congo Iron are being represented in the setaside proceedings by Clifford Chance and Siddarth Dhar KC (Essex Court Chambers).
Commenting on the ICC Award and the set-aside application to the High Court, Sundance Resources
Non-executive Chairman David Porter said:
"Sundance is shocked by this poorly reasoned ICC Award. In our mind, the Tribunal members made
fundamental errors and failed to allow us to present our case on issues that, as it turned out, were
central to their decision-making process.
“The Tribunal seemed to have misunderstood fundamental aspects of how mining and the iron ore
market work. The Tribunal also seemed to come to conclusions that were not based on the parties'
submissions.
“I am hopeful that the English courts will set aside the Award so that this great injustice to Sundance
and our investors can be reversed.”
Sundance will update shareholders on the set-aside process within the limits of applicable
confidentiality restrictions.
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Sundance also wishes to provide an update on its legal proceedings against the Republic of
Cameroon (“Cameroon”), also before the ICC. The award in the case against Cameroon is expected
sometime in February to March 2026. As this case is independent of the Congo proceedings and
before a different Tribunal, Sundance expects the outcome of the Congo proceedings not to
influence or affect the outcome of the Cameroon proceedings.
Sundance will update sharehol
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