CHINA's trade war with Australia prompted, a Beijing-linked group to develop ties to a West African promising iron ore deposits in the Mbalam-Nabeba project, reports Australia's ABC News.
'The government of Cameroon has refused to affect our mining licence and now appears to be working with the government of Congo to strip us of our rights to the Mbalam-Nabeba project and grant them to Chinese partners who have done nothing and spent nothing in either country,' said Sundance boss Giulio Casello.
While those companies possibly didn't outlay capital in the two West African nations, Beijing has had an eye on resource-rich but impoverished countries.
china isn't the first nation to exercise this strategy, but when it comes to Africa, Beijing is the biggest lender to Africa.
For example, China has supplied 80 per cent of the nation's borrowings, worth 25 per cent of Congo's GDP. Neighbouring Cameroon is in a similar situation.
In 2017, Guinea negotiated a US$20 billion barter deal with China where Beijing promised to provide infrastructure, road networks, sanitation, and a university building.
The trade-off was that a group of Chinese-government-connected companies obtained mining licences and agreements over two massive bauxite deposits.
Leading up to 2018, Beijing registered $164 billion worth of such deals across Africa.
SeaNews Turkey
'The government of Cameroon has refused to affect our mining licence and now appears to be working with the government of Congo to strip us of our rights to the Mbalam-Nabeba project and grant them to Chinese partners who have done nothing and spent nothing in either country,' said Sundance boss Giulio Casello.
While those companies possibly didn't outlay capital in the two West African nations, Beijing has had an eye on resource-rich but impoverished countries.
china isn't the first nation to exercise this strategy, but when it comes to Africa, Beijing is the biggest lender to Africa.
For example, China has supplied 80 per cent of the nation's borrowings, worth 25 per cent of Congo's GDP. Neighbouring Cameroon is in a similar situation.
In 2017, Guinea negotiated a US$20 billion barter deal with China where Beijing promised to provide infrastructure, road networks, sanitation, and a university building.
The trade-off was that a group of Chinese-government-connected companies obtained mining licences and agreements over two massive bauxite deposits.
Leading up to 2018, Beijing registered $164 billion worth of such deals across Africa.
SeaNews Turkey
