Cameroon Eyes Nearly CFA1 Trillion From Five Mining Projects, Gold Reform

Cameroon expects close to one trillion CFA francs in the short term thanks to five major mining projects and a broad restructuring of its gold sector. The measures were presented during a joint press briefing in Yaounde on July 15 by the Acting Minister of Mines, Industry and Technological Development, Fuh Calistus Gentry, and the Minister of Communication and Government Spokesperson, René Emmanuel Sadi.

The five flagship projects cover iron ore, bauxite, marble and gold. They are namely the Bipindi-Grand-Zambi and Kribi-Lobé iron ore projects, the Minim-Martap bauxite project, the Bidzar marble project and the Colomine industrial gold mining project. According to the government, these projects are expected to increase national production capacity, support infrastructure development and create thousands of direct and indirect jobs.

The projects are part of a wider effort to position mining as a driver of economic diversification and public revenue mobilization. Authorities also highlighted future prospects linked to the iron ore deposits of Mbalam, Nkout and Ngovayang, as well as gold projects in Mborguéné, Bibemi and other localities.

Mining sector positioned as economic growth lever

The government said its mining policy is now focused on improving production traceability, securing public revenues, protecting the environment and increasing the participation of Cameroonian operators in the sector. Speaking during the briefing, Communication Minister René Emmanuel Sadi said mining had become one of the country’s most important economic pillars and outlined several projects currently under implementation.

According to Sadi, the five projects are among the most significant initiatives currently underway. Additional mining projects are expected across the East, South and North regions this year. The government also plans to develop critical minerals and rare earth elements identified in various parts of the country.

“It is needless to remind you that the mining sector is today one of the most significant pillars of our economy. It therefore seems imperative to provide information on the strategic decisions taken in this area,” Sadi said.

Gold Sector Overhaul Targets Revenue Leakages

Alongside the five major projects, Cameroon is reorganizing its gold sector to clarify institutional responsibilities and curb revenue losses caused by under-declaration and unauthorized mining.

Under the revised framework, the Ministry of Mines, Industry and Technological Development, MINMIDT, will continue to formulate and oversee mining policy, issue permits, enforce regulations and participate in export certification. It will no longer purchase or market gold.

Those commercial and operational responsibilities will fall to the National Mining Corporation, SONAMINES. The state-owned company will monitor production, collect the government’s share of output and oversee the marketing of precious minerals from artisanal and semi-mechanized operations. Tax and customs authorities will remain responsible for revenue collection, cargo inspections and export compliance.

Officials said discrepancies between gold production, collection and export figures largely result from operators under-reporting output, rather than from the disappearance of gold belonging to the state. The practice has reduced mining tax and export duty receipts.

The reform therefore introduces tighter controls at production sites, minimum delivery requirements and closer monitoring of gold recovery processes, including leaching basins. These measures are intended to give the government a more accurate picture of actual output and improve revenue collection.

Inspections have also identified more than 200 companies operating without proper authorization. Of these, 137 have been referred to the courts. Other operators will be offered an opportunity to regularize their activities, subject to penalties and compliance with the new requirements.

The government expects the overhaul to bring more operators into the formal sector, increase declared production and tax receipts, strengthen national gold reserves and support the transition from semi-mechanized mining to industrial production.

Mercy Fosoh