Cameroon ordered to pay Sundance Resources $355 billion F CFA

• Cameroon has been ordered to pay approximately $616 million (around 350 billion FCFA) to Sundance Resources following a recent arbitration decision.
• The International Chamber of Commerce (ICC) tribunal's decision clarifies the amount owed, raising questions about previously mentioned figures.
• Maître Sikati's statement and the arbitration outcome highlight concerns over contract security in Cameroon's mining sector and potential financial risks for businesses operating there.
• Lawyers advising clients with business interests in Cameroon's mining sector should review existing contracts to identify potential exposures.

According to Maître Sikati, this sum was part of an arbitration process related to the Mbalam-Nabeba iron ore project, which has since resulted in an award against Cameroon.

A recent social media post by lawyer Maître Sikati has sparked controversy over an arbitration award against Cameroon. The International Chamber of Commerce (ICC) tribunal recently ordered Cameroon to pay approximately $616 million (around 350 billion FCFA) to Sundance Resources as part of an arbitration process related to the Mbalam-Nabeba iron ore project. This decision, announced in late July 2026, clarifies the amount owed, raising questions about earlier reported figures. Despite the clarification of the exact amount, Maître Sikati's statement has reignited debate over contract security in Cameroon's mining sector.

The Mbalam-Nabeba project has been a subject of controversy for years, with concerns raised about the terms and conditions of the contracts signed by the Cameroonian government. Maître Sikati's statement suggests that the government may have entered into agreements without properly understanding their implications, leading to potential financial losses. The recent arbitration award against Cameroon highlights these concerns, raising questions about the adequacy of contract review processes in Cameroon's mining sector and the need for greater transparency and accountability.

The recent arbitration award of approximately $616 million (around 350 billion FCFA) against Cameroon, highlighted by Maître Sikati, serves as a stark reminder of the financial risks associated with contract disputes in Cameroon's mining sector. Lawyers advising clients with business interests in this sector should be aware of these risks and consider reviewing their existing contracts to identify potential exposures. By doing so, they can help mitigate the impact of such disputes on their clients' businesses and ensure compliance with relevant laws and regulations.

Lawyers advising clients with business interests in Cameroon's mining sector should be aware of the potential financial implications and contractual risks highlighted by Maître Sikati's statement, and consider reviewing their existing contracts for similar exposures.

Source: Original reporting via Journalducameroun.com