Cameroon: Mines Minister outline impacts of major projects on citizens, page-2

FYI...
Along the same lines, the following article from three weeks ago snuck beneath my radar!




The iron mining project in the Mbalam soil in Cameroon and Nabeba in the Republic of Congo is an innovative project in the mining sector in Africa and requires large investments for multiple benefits. A little over six months already, the Cameroonian and Congolese authorities, with the heads of the consortium of Chinese companies led by the company Bestway Finance Ltd, have officially launched the technical work. Patrick Tchouwa, director of administration and public affairs of Bestway Finance Ltd, gave a special interview to CRTV, the national radio channel, shedding light on the total cost of investments and the benefits linked to this project of the century. The magazine Actu Chine-Cameroon repeats the words of Mr. Patrick Tchouwa for the interest of its readership.

On the question of what the Mbalam-Nabeba iron mining project could bring in terms of jobs, income for the State of Cameroon and for sub-regional integration, Patrick Tchouwa, director of the The Administration and Public Affairs of Bestway Finance Ltd clearly indicated that with a total capital investment (CapEx) of 9.3 billion US dollars, the flagship projects developed by the consortium of Chinese companies led by Bestway Finance Ltd, are intended to reconfigure the economic landscapes of the Republics of Congo and Cameroon. “We expect an annual production capacity of 125 million tonnes of high-quality iron ore by the end of this decade, thus positioning these two countries as significant players in the global iron ore market,” estimated Mr. Tchouwa at the microphone of CRTV-Radio.

But the socio-economic impact of these projects is profound, according to Patrick Tchouwa. “In figures, over the next 50 years, Cameroon will gain 25 billion dollars, or 12 thousand billion FCFA in terms of tax benefits,” he noted on the microphone of our colleagues on state radio. “As for Congo, it will earn double, even triple, because these are its mines,” added Mr. Tchouwa. The economic analysis of the project seen as a whole indicates that it will generate, over a period of 25 years, nearly 195 billion dollars in taxes. A real windfall for the State of Cameroon and its brother Congo. “Moreover, Bestway Finance Ltd and its partners are committed to creating more than 20,000 direct and indirect jobs, significantly stimulating local employment and economic activity,” concluded on the question of the cost of investments and spinoffs. linked to the Mbalam-Nabeba iron mining project between Congo and Cameroon, Patrick Tchouwa, director of administration and public affairs of Bestway Finance Ltd, at the microphone of CRTV-Radio.