WA mining bosses' flight missingRONAN OCONNELL and AAP, The West...

WA mining bosses' flight missing
RONAN OCONNELL and AAP, The West Australian June 20, 2010, 1:38 pm

An airplane chartered by a Perth-based resources company is believed to have crashed in Africa with nine passengers on board.

Talbot Group owner and director of Sundance resources Ken Talbot has been confirmed as one of six Australian mining executives among nine people missing.

Talbot Group chairman Don Nissen confirmed today that the mining magnate and another unamed senior executive were aboard an aircraft chartered by West Australian iron ore miner Sundance Resources that went missing in Cameroon on Saturday.

The family and all those close to Mr Talbot remain hopeful that all on board are safe and well, he said.

Another Perth-based Sundance director and HWE Mining executive John Jones is also believed to have been on the plane.

A spokesman from Leighton Holdings, the parent company of HWE Mining, would not confirm if Mr Jones was on board, although a family friend told reporters he was missing.

Sundance Resources chairman Geoff Wedlock has been confirmed among the missing. Mr Wedlocks wife, Barbara, today confirmed that the Perth-based executive was aboard the flight.

Most of those on board the plane are connected to the iron ore miner Sundance Resources, a West Australian based company listed on the ASX.

Board members from Sundance Resources have been in Cameroon in the past few days speaking with officials about the Mballa project.

A spokesman for Sundance Resources Limited said that the plan had been reported missing after it failed to reach Yangadou in the Republic of Congo after leaving Cameroon on Saturday.

"The flight was carrying nine passengers, predominantly from Sundance Resources, who were visiting the company's iron ore project in Cameroon and Congo.

"The families of the missing have been notified and are being supported during this deeply distressing time."

Sundance said an extensive search was underway.

Local authorities were immediately notified and the companys emergency response procedures have been activated and have been operating around the clock, the spokesman said.

The companys efforts are currently focussed on co-ordinating with the government authorities in the Republic of Cameroon and Republic of Congo as well as with the Department of Foreign Affairs and Trade and Australias diplomatic representatives in the region to locate the aircraft.

"A comprehensive air and ground search ... will commence at first daylight local time on Sunday (approx 1.30pm WST).

"A Congolese aircraft will be involved in the search."
Sundances chief focus is its Mbalam ore project in Cameroon, potentially worth billions over its lifetime.

DFAT said the high commissioner designate to Abuja is in Cameroon and is managing the governments response on the ground.

One additional official from our high commission in Abuja, plus a specialist consular officer based in the Middle East, will travel to Cameroon as soon as is possible to support the governments response, a spokeswoman said.

The specialist consular officer will bring additional communications equipment to support the DFAT team on the ground in Cameroon.

"The WA mining industry extends its deep sympathy to the family and friends of those reported missing, from yesterday's charter flight over Africa," Chamber of Minerals and Energy of Western Australia President, Kim Horne said.

"Sundance Resources is based out of Perth and its senior executives and directors are well-respected within the WA sector."

"At this difficult time, our thoughts are with the staff at Sundance and the loved ones of those missing."

Sundance Resources only two weeks ago discovered its African iron ore deposit is 93 per cent bigger than initially thought.

The operations of Australias 11th biggest iron ore producer is focused solely on developing its Mbalam iron ore project spanning Cameroon, Equatorial Guinea and the Republic of Congo in West Africa.

The Perth-based minnow on June 2 said project resources were in place to support a mine at Nabeba in the Republic of Congo portion of Mbalam which is expected to start operations in 2012.

The mine will be in production for at least 25 years and produce 35 million tonnes of iron ore per year from an inferred resource of 200 million tonnes - 93 per cent more than previously reported, Sundance said at the time.

Sundance executives and their advisers were in the midst of targeting prospective steel mills and infrastructure providers to put up project finance to build and operate the mine when the company reported the aircraft missing today.

Talbot Group is Sundances biggest shareholder with a 16 per cent ownership stake.

Chief executive Don Lewis on June 2 said the Mbalam projects high grade iron ore and low mining costs would make it stand out from its global peers.

Our very rapid exploration success at Nabeba strengthens what is already a robust proposition for global investors and potential partners, he said.

It is unknown if Mr Lewis was on the missing aircraft.

Sundance has a market capitalisation of $352 million, is debt-free and has $85 million in cash.
Its shares have traded at between 12 cents and 20 cents on the local bourse over the last 12 months.