(Business in Cameroon) - Cameroon is a country rich in gold. For the moment, gold is not an industrial product, but artisanal. CAPAM (Framework for the support and promotion of mining), says Cameroon will produce close to 16,653.3 kg of gold on a small scale from 2010 to 2015. Artisanal production in 2012 is estimated at 224.8 kg.

Stimulate entrepreneurship

The Mining Code of Cameroon authorizes artisanal mining, as well as other forms of mining. For the moment, only C and K Mining has a license to “dig” gold industrially although it is yet to start exploitation. But with the increased mechanization of artisanal mining, many companies are interested. In Bétaré-Oya, a locality in Eastern Cameroon, the main gold producing region, eight companies are on the ground. Many of them have an average production of 10 kg per month, according to CAPAM.

Channel the production

According to CAPAM at least 140 gold deposits have been identified in Cameroon, the majority being of an artisanal mining nature. The gold produced in the traditional way does not always follow formal channels. Out of 100 kg each month, 90 kg go to traffickers. In 2011, Cameroon launched the “Operation Gold” drive in collaboration with the Police to instill order and increase the state’s gold reserves at the Central Bank of Central African States (BEAC). The estimated monthly domestic production is 170 kg. Through this operation, CAPAM secures 100 kg with the support of the defense forces.

According to the Ministry of Economy, studies are underway to evaluate the gold potential of Cameroon. But artisanal mining is effective in the eastern, northern and southern parts of the country.

Gold reserves spread over an area of 20,000 km², according to government sources.