Mining Sector: FMC resolved to be on the offensive

The Cameroon Mining Federation (FMC) has adopted the sum of 47 million CFA francs as annual budget for effective implementation of its strategies in the mining sector.

During a meeting on 15th September 2014 at the Yaounde Chamber of Commerce you mean, or “Trade”?, a mining expert, Mr Emmanuel Mbiam reiterated the federation’s interest in the mining sector and their commitment in respecting the laws governing the activity through seminars.

Experts at the roundtable were agreed that the mining sector has the potential of improving on the public treasury if its activities are carried out in accordance with the prescribed norms and regulations.

The experts also highlighted the need for investors to sign contracts with the state in order to officially obtain exploitation licences.

According to his statistics just 50 of 200 licences issued by government are being exploited.

The Cameroon Mining Federation (FMC) composed of 33 members was created as a mediator between the state and miners.

Its goal is to ensure better mining infrastructure and a fair negotiation of contracts. The FMC also aims at convincing prospective investors to Cameroon.