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Exploitation of the Lobe-Kribi iron deposit: Minister **riel Dodo Ndoke announces “600 direct jobs and more than a thousand indirect jobs”

Cameroon

Actu CamerounLast updated May 19, 2022

The Minister of Mines, Industry and Technological Development, **riel Dodo Ndoke took the floor on CRTV to provide clarification on the agreement signed between Cameroon and the Chinese company Sinosteel for the exploitation of iron from Lobe.

Faced with disapproving comments and erroneous analyzes on the agreement signed by the State, Minister **riel Dodo Ndoke provided clarifications.

On CRTV, the Minister announced that the operating company will create 600 direct jobs and more than a thousand indirect jobs.

“The company plans to create 600 direct jobs and more than a thousand indirect jobs. Compared to other mining sites around the world, this is a rather modest figure, but that’s what it is. It helps to solve the unemployment problem that our youth are experiencing. Beyond that, there are direct investments that will be made in the locality. There are Cameroonian SMEs that will work as subcontractors with the company and a lot of satellite activities will mingle around the project,” said Minister **riel Dodo Ndoke.

Cameroon and Sinosteel signed a mining agreement on Friday May 6, 2022. The signing ceremony involved, on the one hand, the State of Cameroon, and on the other hand, SINOSTEEL CAM SA. The agreement concerns the industrial exploitation of the Lobe-Kribi iron deposit.

The signing ceremony was chaired by **riel Dodo Ndoke, Minister of Mines, Industry and Technological Development.

The Chinese government multinational “has 65 subsidiaries, including 49 in China and 16 abroad. It plans to invest 420 billion FCFA in Cameroon.

The agreement initialed by the two parties “concerns an integrated mining and infrastructure project aimed at the industrial exploitation of Lobe iron ore in the southern region where reserves are estimated at 632 million tonnes. The company in charge of the work plans to extract 10 million tonnes of ore per year at 33% and then enrich them to produce 4 million tonnes of concentrates with a high iron content of 60%”, indicated the Ministry of Mines, Industry and Technological Development.

Source:
https://afriq54.com/central-africa/cameroon/exploitation-of-the-lobe-kribi-iron-deposit-minister-**riel-dodo-ndoke-announces-600-direct-jobs-and-more-than-a-thousand-indirect-jobs/