Cameroon is set to inaugurate its first industrial gold mine, a milestone that will revolutionise the country’s mining sector and furnish the state coffers with a projected revenue of 30 billion CFA francs annually.
The Cameroonian firm CODIAS S.A. operates the ore processing plant in Colomine, Ngoura Subdivision of the East Region, which is set to generate approximately 600 kilogrammes of gold per year, according to the Ministry of Mines, Industry, and Technological Development.
“Initially expected to produce 3 to 4 kilograms of gold per month, the facility is projected to scale up its output to 50 kilograms monthly in the short term, with an annual yield of approximately 600 kilograms or about 20,000 ounces of gold,” the Ministry said.
“This production level is estimated to generate annual revenues of \$60 million USD (roughly 30 billion FCFA),” it added.
The announcement follows a site visit by Minister Prof Fuh Calistus Gentry, who confirmed the facility’s readiness to start operations.
Curbing Reliance on Artisanal Gold Mining
For decades, Cameroon has relied almost exclusively on small-scale artisanal mining, which accounts for 95 percent of national gold output.
Between 2010 and 2015, artisanal miners produced an estimated 16,653 kilograms of gold, according to government figures.
However, artisanal mining in Cameroon remains a labor-intensive and hazardous endeavor, with workers frequently exposed to dangerous chemicals and the constant threat of site collapses.
Also, a significant portion of this gold is smuggled out of the country, depriving the state of vital tax revenues.
The Mines Ministry hopes the new industrial site will shift the narrative.
“Over the next 20 years, the Colomine site could produce up to 400,000 ounces of gold, placing it on par with other large-scale industrial mining projects across Africa,” the Ministry noted.
‘Gold Mine Meets Industrial Standards’
During his inspection, Minister Fuh praised CODIAS S.A. for adhering to the Ministry’s technical recommendations and completing the facility according to modern industrial standards.
The new gold mine is a closed-circuit ore processing system, according to CODIAS S.A., which describes it as a technological breakthrough.
It uses a chemical separation technique that ensures more than 95% recovery of the gold content, the company added.
CODIAS S.A. is a Cameroonian-owned enterprise led by CEO Bonaventure Mvondo Assam.
Minister Fuh commended the growing leadership of Cameroonian firms in the mining sector, particularly CODIAS S.A. in the East and G-Stones, which manages iron exploitation in Bipindi-Grand Zambi, South Region.
The Minister stated that these developments place Cameroon among the few African nations executing large-scale mining projects through national companies.
Looking ahead, the country is preparing to roll out additional large-scale mining projects, including the Kribi-Lobe iron ore venture, the Mbalam-Nabeba iron deposit, and the Bipindi-Grand Zambi site.
