Operators suggest the creation of fund for mine development

Although Cameroon has mineral deposits of world level, like iron in Mbalam and Nkout, Nickel and cobalt at Lomié, and diamond at Mobilong, these huge potential remains untapped to date, because of the lack of a true mining industry.

Also, for now, the mining activity in the country is largely dominated by artisanal mining (which contributes to only 1% in the formation of the country's GDP), little generator of revenue in comparison with the existing potential.

According to the Mining Federation of Cameroon, a recently formed group of local operators, the transition from mining crafts to industrial mining could pass through the establishment by the Government of an 'industrial mine development fund. This federation recently made this proposal to the Cameroonian Minister of Mines, Emmanuel Bonde.

In addition, operators grouped in this federation expressed the wish to see the mining code redeveloped (the Government is already working on a project that could be submitted to Parliament during the sessions of November 2014 and March 2015, according to our sources), to 'facilitate the granting of operating permits', permissions that "allow them to negotiate with international partners, supports Attorney Emmanuel Mbiam, president of the federation.

As a reminder, the Cameroonian Government, since 14th May 2014 was forced to suspend the issuance of artisanal mining permissions, because of the ambient disorder in the sector, including the fact that, "several operators took affluent research permit which was passed immediately to the operating phase, and this operation is disrespectful of environmental standards" in force in the country.