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Mining

Cameroon: Capam helped collect 37.66 kg of gold by Oct 15, 2020, in the framework of production sharing contract with artisanal miners

Cameroon: Capam helped collect 37.66 kg of gold by Oct 15, 2020, in the framework of production sharing contract with artisanal miners
  • Comments   -   Friday, 04 December 2020 16:17

(Business in Cameroon) - In the framework of the production sharing contract between Cameroon and gold miners (both artisanal miners and companies), 276.26 grams of gold was recovered from artisans this year as arrears for the 2019 fiscal year. Also, by October 15, 2020, 37,215,40 grams were recovered from Small-scale mining companies as synthetic tax for this year and 171 grams for arrears of 2019. This makes a total of 37,662.66 grams (37.66 kg) of gold traced as of October 15, 2020.

For the Ministry of Mines, this is a small step forward, because according to the Support Framework for Artisanal Mining (Capam), the Cameroonian public treasury loses about XAF1 billion every month due to mining companies not disclosing the exact quantity of gold they produce.

The Cameroonian government then set up Capam to not only monitor and evaluate the actual production of artisans and mining companies but also to supervise artisanal miners in the marketing of their products. The program also collects the government's share directly under the production sharing contracts in effect in the sector.

Despite the quantity of gold produced in the country every year, Cameroon is not yet officially recognized as a gold producer or exporter, according to the Bank of Central African States (Beac). Indeed, in its report on the evolution of the prices of the main commodities exported by CEMAC countries in Q3-2020, the Beac estimated that in the CEMAC region, only the Central African Republic and Gabon produce and export gold.

Yet Cameroon has licensed many mining companies that mine gold in the eastern region, alongside thousands of artisanal gold miners. This lack of recognition is probably because most of the gold produced in the country is sold through informal circuits. According to Cameroonian authorities, barely 5% of the national production is sold through formal channels.

S.A.

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