December 18, 2009 Cardero Resource announce that Jinzhao Mining Peru, S.A., the Peruvian subsidiary of Zibo Hongda Mining, a subsidiary of Nanjinzhao Group, has advised that it is proceeding with the completion of the purchase of the Pampa de Pongo Iron Deposit in Peru.
May 19, 2009 Cardero Resource Corp. reported that a subsidiary of Nanjinzhao Group Co. Ltd. was assigned the right to purchase Pampa de Pongo pursuant to the October 24, 2008 sale agreement (as amended), has declined to pay the USD 10 million deposit required by May 17, 2009 unless certain changes are made to the agreement, primarily to reduce the final sale price. Hongda has advised Cardero that, due to current difficult global economic conditions, tight credit markets and weakened iron ore prices, it requires a reduction in the overall purchase price in order to proceed with the agreement, including making the USD 10 million deposit.
December 9, 2008 Provided a metallurgical update on the Pampa El Toro iron sand project. The concentrate will be processed into liquid hot metal (molten iron) in a pilot-scale electric arc-based smelting furnace and cast into iron ingots.