Cameroon announced overnight another mining project will start soon. I expect they will announce more mines to take off in the coming weeks or months. Let's hope Minin-Martap is one of them.
Wednesday, August 30, 2023 2:36 p.m.
Grand Zambi iron deposit: G-Stones is only waiting for the delivery of equipment to start the project The promise of the start of certain major mining projects in Cameroon in 2023, which was made by the Head of State, Paul Biya, during his address to the Nation on December 31, 2023, could come true. Particularly with regard to the exploitation of the Bipindi-Grand Zambi iron deposit, entrusted to G-Stones, a subsidiary of the Cameroonian conglomerate Bocom.
Indeed, according to information from an evaluation meeting just chaired by the interim Minister of Mines, Fuh Calistus Gentry, the company controlled by the Cameroonian billionaire Dieudonné Bougne is only waiting for the delivery of the equipment ordered for actually start the project.
" Everything is ready for the faultless start of the mine in the next few months, with the arrival of equipment for the open pit mine and the road infrastructure in place ", reports the daily with public capital, Cameroon Tribune , citing a source at the Ministry of Mines.
As a reminder, it was on November 13, 2019 that G-Stones Ressources signed an investment agreement with the State of Cameroon, with a view to the exploitation of this iron deposit located in the Southern region. This project, which includes the construction of a steel complex in the locality of Fifinda (Southern region), will make it possible to exploit an iron deposit estimated at around 160 million tonnes for 40 years.
CAY Price at posting:
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