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Yaoundé - 28 September 2021 -
Mining

Surface rights: Cameroon claims XAF184 mln from 16 mining companies

Surface rights: Cameroon claims XAF184 mln from 16 mining companies
  • Comments   -   Tuesday, 02 March 2021 10:52

(Business in Cameroon) - On February 24, 2021, Minister of Mines Gabriel Dodo Ndoké (photo) published a note inviting 16 mining companies to pay a cumulative amount of XAF184.02 million in unpaid surface rights to the public treasury.

Specifically, Southland Mining Cameroon should pay XAF15.6 million, Sycma Sar XAF9 million, Cameroon Minerals & Resources Sarl XAF16.84 million, Naina Cameroun Sarl XAF8. 56 million, BC Corporation Sarl XAF25.66 million and Société camerounaise d'exploitation minière XAF7.83 million.

Also, Aurinco should pay XAF99637, Cameroon Emergence Corp XAF7.81 million, Cameroon Extraction Ltd XAF8.64 million, Dacaf XAF16.18 million, Eufrasia Cameroun XAF99,000, Global ABS Engineering XAF7.34 million, Su Yang XAF4.51 million, ABS Holding XAF29.28 million, LC Minerals Ltd XAF6.85 million and LC Exploration Ltd XAF17.94 million.

According to the Mining Code, surface rights are royalties that mining licenses, authorizations, quarrying permits, or mineral water exploitation license holders have to pay annually for occupying the surface where their activities are carried out.

Also according to the same Code, except for sanitation taxes (which are declared and paid quarterly), mining taxes and royalties should be declared and paid by the 15th of every month; after that for product extraction has been paid. For mining companies that do not pay those taxes and rights, the law provides for sanctions that could go from permit withdrawals to criminal proceedings.

S.A.

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