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heres another article In 2027, Cameroon plans to launch 14...

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    In 2027, Cameroon plans to launch 14 mining projects, three of which will be launched in 2023. The country's economic growth reached nearly 4% in 2023, mainly driven by the non-oil sectors. Cameroon aims to increase public investment, which stood at 5% of GDP in 2023. The country has nine proven mineral reserves and aspires to become an emerging country with a strong industrial and mining sector by 2035.

    Iron, gold and bauxite are among the mineral resources on which Cameroon relies for its economic development. By 2027, the country has ambitions to launch fourteen mining projects. At the end of 2023, three of these projects had an effective start. These are the exploitation of iron ore in Kribi-Lobé, the exploitation of the iron deposit in Mbalam-Nabeba and the exploitation of iron ore in Bipindi – Greater Zambia. These sites are full of mining potential estimated at more than 3 billion tons of proven iron, with a content of 62.3% iron, one of the highest in the world, recognized at the ore of the Mbalam-Nabeba deposit.

    "Regarding the industrial iron mine of Lobe which is located in the districts of Kribi 1st, Campo and Lokoundjé, the exploitation project has a reserve of 630 million tons for an annual exploitation of 10 million tons of ores. But it is an iron that should be enriched, so the concentrate will be 4 million tons."

    Victor Aristide MIMBANG,Director of MinesCameroon

    Sustainable mining represents a reliable source of public finances for Cameroon. In the country, growth reached nearly 4% in 2023, driven mainly by the non-oil sectors, according to data from the International Monetary Fund. Under the impetus of the President of the Republic Paul Biya, the mining sector is positioning itself as a niche capable of filling the budget deficit estimated at 125.5 billion CFA francs. The mobilization of public resources should, according to the Cameroonian Head of State, increase public investment, which stood at 5% of GDP in 2023.

    "It is necessary to explore new avenues, in the face of the constraints inherent in the broadening of the tax base and the drastic drop in oil revenues. The solid mine, in particular gold, seems to us to constitute an exceptional niche of financial resources in this respect."

    Paul Biya,President of the RepublicCameroon

    Cameroon has nine proven mineral reserves, official data from the Ministry of Mines, Industry and Technological Development showed. In its vision for 2035, Cameroon plans to become an emerging country with a strong industrial and mining sector. In 2024, however, the contribution of the mining industry to the country's GDP amounts to 1%, according to the government. By 2025, four more mining projects will be launched, including the Nkout Ntem and Ngovayang iron projects, as well as the mining of bauxite ore at Minim-Martap.


    Cameroon: Launch of 14 mining projects planned by 2027 - Africa24 TV
    Last edited by sub7: 20/05/24
 
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