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Yaoundé - 20 April 2018 -
Mining

Cameroon: CAPAM returned a little more than 255 KG of gold to government in 2017

Cameroon: CAPAM returned a little more than 255 KG of gold to government in 2017
  • Comments   -   Thursday, 11 January 2018 09:39

(Business in Cameroon) - In 2017, a little more than 255 kg of gold was returned to Cameroon’s ministry of finance, thanks to the activities of the Cadre d’appui à l’artisanat minier (CAPAM), the government’s programme which helps recover from the informal circuit all the gold produced in Cameroon.

This has been revealed during a meeting of the steering committee of CAPAM, held on January 8, 2018, in Yaoundé, the capital.

Set up with the purpose of transferring gold produced in the country to the official circuits, CAPAM allows the government to outrun smugglers who used to buy 90% of the production.

With representations at the various mining sites, the programme not only helps check and price the actual output of miners and mining companies, supervise miners in the commercialization of their gold, it also deducts the share which should be returned to the government as stipulated by the production sharing contract applied in the sector.  

BRM  

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