Mon. Sep 23rd, 2019

GOLD NEWS

GOLD NEWS CAMEROON

LIBERTY LOCAL MINERS LTD GRANTED PERMIT IN ESSEKA

Ministry of Mines Cameroon Granted Liberty Local Miners Ltd mining permit in esseka.

In this eastern department alone, where there are officially 30 mining companies, 200 new permits have been issued to mining operators since the start of 2018, generating a total of 500 million FCfa in public revenue.

Besides gold, which is the most mined mineral by small scale entities in this part of Cameroon, the region is home to the Mbalam iron deposits, Lomié’s nickel and cobalt ore and Mobilong’s diamonds which, respectively, have “world class” potential, according to experts. However, their development has been on hold for eons now.

Three Chinese mining companies ordered to leave Cameroon

Authorities at the Cameroon’s Ministry of Industry, Mines and Technological Development, said the companies were banned for non-compliant with contractual terms.

Going by a statement the authorities issued on Saturday, Hong Kong company did not have documents authorizing it to carry out mining activities. Meantime, Peace Mining and Lu and Lang companies, departure is linked to a series of conflicts recorded between their employees and local populations which have resulted in deaths, in addition to the non-respect of the environment.

These companies reportedly contributed significantly to the degradation of the environment through the diversion of rivers, and obstruction of rivers by mud, which has had a negative impact on agriculture and livestock.

Studies from several local organisations reveal that gold exploitation activities in Cameroon by Chinese companies has caused the death of at least 34 people in 2017.

MINISTRY OF MINES CAMEROON

Cameroon and Namibia are planning to cooperate in the mining sector. In that regard, on February 20, 2018, Ernest Gbwaboubou, Cameroon’s minister of mines received in audience Shipoh Peingeon Djabi Titus, High Commissioner-designate of the Republic of Namibia (with residence in Abuja, Nigeria) in Cameroon.

The objective of this hearing was to make contact between the Namibian Diplomat and MINMIDT with a view to setting up bilateral collaboration platforms in the mining, industry and technological development sectors. These platforms could lead Cameroonian officials to visit Namibia to discover activities in the sector and vice versa”, the minister of mines reveals. Ernest Gbwaboubou explained that his ministry was ready to cooperate with “this brother country”.

Cameroon could gain a lot from this collaboration with Namibia whose mining sector is strong. For example, during Q2 2017 when Namibia‘s economic growth was negative, the Namibian chamber of mines indicated that the mining sector was one of the two sectors which performed well with 25.8%. On a year to year basis, during Q2 2016, the same sector grew by 19.4%.

Paradoxically, Cameroon which has Africa’s largest nickel, cobalt, iron, rutile, diamond and uranium deposit reserves and also the second largest bauxite reserve in the continent, has only  explored 40% of its mining potential.

Atlantic Diamond & Gold Ltd to Invest 200 Million Dollars to Mining Sector

Atlantic Diamond & Gold Ltd to invest 200 million dollars in the mining sector. The meeting was held today at Nation’s National Conference Hall in yaounde the Nation’s Capital . This Meeting was attended by Ceo Mr. Salif Keita Salam , His Secetary Mrs Catherine Mbile, His Execellency the Minister of Mines, industries and Technological Develeopment Mr. Ernest Gbwaboubou and secetary of state .

The Cameroon’s Mining Giant’s  main aim was to boost the mining sector of the country thus paving way for upcoming mining companies in cameroon and cemac regions.