Sat. Aug 24th, 2019

GOLD CAMEROON

MINISTRY OF MINES CAMEROON NEWS (Millions invested but gold mining ‘under-exploited’ in W.Africa: experts)

MINISTRY OF MINES CAMEROON NEWS

Mining companies have invested at least $5 billion towards gold exploration in West Africa in the last decade but significant reserves are under-exploited, mineral industry experts said on Tuesday.

Delegates at the Ecomof mining and petroleum forum in the Ivory Coast commercial capital Abidjan were told that more must be done to attract international investors to develop mining potential.

“Throughout West Africa there are interesting minerals, gold, iron, nickel, manganese among others,” said Kadjo Kouame, managing director of Sodemi, the Ivory Coast mining development company.

Ivory Coast and Ghana are among the world’s top cocoa producers but are now seeking to diversify their economies by mining precious metals and newly discovered reserves of oil.

“But there is a real job to do to attract investors and diversify projects, too focused on gold,” Kouame added.

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.