CMR mining potential estimated at more than 500b FCFA

The mining potential of the resources of Cameroon is estimated at more than 500 billion FCFA, that is to say nearly 100 billion dollars, according to a recent study from the mining Federation of Cameroon (FMC).

According to the mining Federation of Cameroon (FMC), the basement of the country abounds in innumerable and various ores, in particular oil, natural gas, iron, diamond, the rutile, etc.

"The mining activity in Cameroun is risky but can pay large to the Treasury, provided that it is practised within the lawful framework", supports the president of the FMC, Me Emmanuel Mbiam.

But for the president of the FMC, the Cameroonian mining sector , which can generate a labour of approximately 2.000 people, suffers from a remarkable in-organization and the exploitation takes much time.

"Indeed, to exploit the basement in order to detect an ore there, requires ten years and large financial investments", explains to Me Emmanuel Mbiam.

He continues by declaring that "once the discovery is made, there is need for the phase of signature of convention with the State for obtaining a user licence."

Candidates with mining in Cameroon denounce administrative slowness and heaviness, as well as the multiple posts of corruption installed on the circuit of obtaining the licence.

"It rather often arrives that we are discouraged from to continue to invest in this sector even after obtaining the licence to be stripped by the cameroonian civils servant . Certain licences even often leave after the applicant desisted ", complains a mining owner based in the East of Cameroon.

The president of the mining Federation of Cameroon indicated that "only 50 licences out of 160 signed by the government are exploited at present"

Vis-a-vis all these difficulties, the FMC intends to organize seminars to promote the mining activity in Cameroon near the various actors and to popularize the provisions of the law of 2001, governing the sector.