logoBC
Yaoundé - 25 May 2020 -
Mining

Cameroon: Mining revenues grew to CFA5bn in 2018

Cameroon: Mining revenues grew to CFA5bn in 2018
  • Comments   -   Thursday, 22 November 2018 13:58

(Business in Cameroon) - Actions pulled in the mining sector by the government this year helped increase revenues from CFA4 billion in 2017 to nearly CFA5 billion, the department of industry, mines and technological development (Minmidt) said in an internal note.  

According to the Minmidt, these actions mainly concerned the further dissemination of the Mining Code, implementation of which has made it possible to make some progress, particularly in revenue terms. Moreover, this year has seen the direct purchase of gold from artisanal miners, with projections of 40 kilograms by the end of the year and 120 kilograms from operators in the semi-mechanized craft sub-sector.

Minmidt is optimistic for the coming months thanks to the development of mining sites, such as Akonolinga rutile deposit (500,000 tons) for which an international call for interest has been launched. In addition, the State is currently negotiating three mining agreements for the exploitation of the Akom II iron, Kribi iron and Colombian gold deposits. A research permit was also issued for the bauxite deposit (provisional potential of 554 million tons) at Ngaoundal and Minim-Martap.

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)