logoBC
Yaoundé - 25 May 2020 -
Mining

Only 10% of Cameroon’s artisanal gold production enters the formal sector (EU)

Only 10% of Cameroon’s artisanal gold production enters the formal sector (EU)
  • Comments   -   Tuesday, 11 June 2019 16:42

(Business in Cameroon) - In Cameroon, only about 10% of the total production of artisanal gold miners enters the formal sector, the European Union observed. This share contributes only 0.26% to State budget, or less than XAF1.75 billion.

In need to help Cameroon increase the share of artisanal gold revenues in its economy, the EU launched May 28 in Yaoundé the second phase of the “Mining, Environment, Health and Society Project” -ProMess- that is expected to enhance mining governance in Cameroon through collective follow-up of mining activity and promotion of governance transparency.

In concrete terms, the project will improve populations’ skills in the sector and better inform them of regulations; combat fraud and corruption in the mining sector. It will also help artisanal miners (women and youth included) in the process of formalizing their activity and adopting good practices.

ProMess II is scheduled to last 4 years; it has benefited from XAF520 million from the EU and XAF50 million from NGOs Foder and Transparency International Cameroon which are entrusted with its implementation. The project covers the districts of Bétaré Oya, Garoua-Boulaï, Ngoura, Batouri, Ketté, Ouli, Kentsou, Yokadouma, Gari-Gombo, in the East region and the districts of Meiganga in Adamaoua.

During the project’s first phase, which covers the period from 1 January 2015 to 31 December 2018, these same regions received about XAF260 million. Phase I raised awareness of more than 25,000 members of the mining communities on the dangers of mining, mine site rehabilitation, and child labor in mining operations.

S.A

medicis-sarl-to-invest-about-xaf6-bln-in-the-construction-of-a-haemodialysis-centre-in-cameroon
Medicis Sarl plans to invest XAF5.7 billion for the construction of a haemodialysis centre in Cameroon. To encourage and facilitate the realization of...
electronic-tolls-cameroon-finally-signs-a-construction-contract-with-razel-bec-egis-project-consortium
On 18 May 2020, the Cameroonian government finally signed a contract for the construction of the country's first 14 electronic toll booths with the...
no-microfinance-institution-operating-in-cameroon-published-their-tariff-conditions-in-h1-2019-as-the-regulation-requires-beac-study
The Bank of Central African States (Beac) recently published a study titled: “Publication des conditions tarifaires par les banques au Cameroun :...
cameroon-transit-fees-collected-on-chad-cameroon-pipeline-surged-by-24-32-to-xaf36-59-bln-in-2019-snh
In 2019, Cameroon generated XAF36.59 billion (+24.32%) of transit revenues on the Chad-Cameroon pipeline, according to figures recently published by the...

Mags frontpage


Business in Cameroon n87: May 2020

Roads, dams, fiber optics, markets... Cameroon’s big projects toward integration


«Central Africa is facing enormous challenges» - AfDB


Investir au Cameroun n97 Mai 2020

Routes, barrages, fibre optique, marchés… Les grands chantiers camerounais de l’intégration


« L’Afrique centrale est confrontée à d’énormes défis » (BAD)