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Codias SA to obtain exploitation permit for Colomine gold project in 2021

Codias SA to obtain exploitation permit for Colomine gold project in 2021
  • Comments   -   Monday, 14 December 2020 18:47

(Business in Cameroon) - Codias SA could receive an exploitation permit for the Colomine gold project and launch the construction of the said mine, according to the Ministry of Mines, Industry and Technological Development (Minmidt).

On January 5, 2017, Codias SA (which is a Cameroonian mining company) received an exploration permit for the exploration of gold and related substances over a 309 km2 area in Ngoura.  

On November 29, 2019, in Yaoundé, the Minister of Mines Gabriel Dodo Ndoke and Bonaventure Mvondo Assam (promoter of the said company) signed a mining convention for the Colomine mines. According to the Ministry of Mines, “the mining method envisaged for the extraction of Colomine's gold resource is underground mining by the pillar mining method and this exploitation is planned for 5 years, with a production peak of 500 kg of gold/year in the 2nd  year; the first year being devoted to the development phase (construction of the mine and other mining facilities).”

Let’s note that the Colomine project will be the country's first industrial gold mine, thus guaranteeing the traceability of the ore mined and making Cameroon a gold-producing country known on the international mining scene.

S.A.

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