Another interesting article I found...

Another interesting article I found today:

http://www.lanouvelleexpression.info/index.php?option=com_content&view=article&id=5058:richesses-minieres-le-cameroun-un-nouveau-scandale-geologique-&catid=47:entreprises-et-marches&Itemid=73

Mineral Cameroon, a new geological scandal?
Written by Francois Bambou
Tuesday, 02 June 2009 12:11

(Translated from french)

Because of its large variety and availability of world class deposits, the mining sector in Cameroon could be an invaluable resource for boosting the economy of Cameroon.

Enable the mining sector in Cameroon to take over the oil and agricultural products exports in supporting the economic development of Cameroon. In any case, the objective pursued by the Cameroonian government which, together with the World Bank, is developing a strategy to revive the mining sector.

An initiative driven by the simple observation that, despite a potential mining envied, Cameroon has not, since the years of independence, focused on the development of its mineral reserves as a source of economic growth. Yet, as indicated in the Minister of Mines, Industry and Technological Development, Badel Ndanga Ndinga, at the opening of the first forum of mine Cameroon on May 27 last, "despite the low level of inventories and work made until the end of 80 years, Cameroon has a flattering array of indices and mineral deposits, some of which are world class. "

Indeed, there is almost everything that is useful and valuable in the basement of Cameroon. Diamond is found mainly in the south eastern border of Congo and the Central African Republic. Gold is present in the same region and in the Adamawa Plateau and its operation remain artisanal. At least 140 gold targets and 19 diamond targets were identified by the Ministry of Mines. One of the largest diamond deposits in the world has been discovered in the east by prospectors Korean. A total of 50 varieties of minerals have been identified on the territory, with all major operating potential. These results explain the authorities, resulting from work inventories, which cover only 40% of the country. "These resources, says Ndanga Ndinga, are unfortunately still untapped. The Government therefore intends to change their status of wealth potential into actual wealth of actively participating in development ".

In recent years, there was a tremor with a positive flow of investment in the sector. Before the introduction of a new mining code more attractive in 2001, the country had only eight research permit, two of which offer real prospects for industry, and the activity of small mine was not even organized. Today, 86 research permits were issued. Operating permits are still rare, but not for long, since significant investments are underway in the sector. In total, around 10 billion of investments that are underway in the mining sector in Cameroon, which by 2010 should be one of the main treasures of the Cameroonian economy if the crisis does not affect the current market.

One of the biggest investments in the sector is cobalt. GEOVIC-Cameroon, a subsidiary of the eponymous American firm, is under contract with the Cameroonian government since 2002 for the exploitation of cobalt and nickel camerounais. Operating plants are under construction in Lomié in the east to a farm which could last more than two centuries. Cameroon mines contain more cobalt than nickel, which according to experts, is an asset of some profitability for the operator. GEOVIC will begin to extract 4,000 tonnes of cobalt and 5,000 tonnes of nickel per year to double production. Other investments are expected in areas of iron and bauxite. Regarding iron, the Australian firm Sundance Resources Ltd, through its subsidiary, Cam Iron camerounaise, led a project operating since 2011, mining of iron Mbalam in the South, whose reserves are estimated at over 800,000 tonnes . A railway line of 400 km must be created while the firm will also help in the construction of the terminal iron deepwater port of Kribi.

As for the bauxite which Cameroon is home to one of the largest deposits in the world (on the two main sites identified, Minim Martap in the Adamawa Plateau and western countries on a total potential of the 2 billion tons) it will be mainly operated by Hydromine a U.S. firm that works in partnership with Hindalco and Dubal, to form China Alumina, with the aim of exploitation of bauxite deposits in the region of Adamou and the construction of a factory for refining alumina Ngaoundal able to handle 7 million tonnes of bauxite per year for 2.8 million tonnes of alumina.

Optimism

Alongside these projects already under imminent phase of implementation, several industrial mineral prospects have been identified. Thus, mining projects are considered very interesting, and could double the current investments in the mining sector in Cameroon for wearing the short term to around 20 billion dollars. So recently, we have mentioned, the South Korean firm C & K discovered a diamond Mobilong, also in the Eastern region, including the estimated value of 740 million carats. A discovery confirmed by the Minister of Mines, and already ranks as one of the largest in the world.

Paul Ntep Gwet Director of the framework to support the mining craft underlines the challenge of such a deposit, in an interview recently published by Chinese news agency: "Until then, we did not know the Cameroon as a countries diamonds. 740 million carats, it is five times the world production. So it is a source of global importance, if the certificates confirm the estimates. This project includes investments of around 1 billion dollars per year. " Gwet always said, it is a french firm Sicamines who, after surveys, has identified a deposit of cassiterite, ie the ether, Darla Mayo (in the province of the Far North), associated with or coltan columbite-tantalite. Please note, this same mining company, already involved in the operation of Rutile (second global reserve) in the Nyong working together on deposits Nepheline-syenite (material used for the safe storage of radioactive products) found in the area Kribi.

To make the mining sector a pool of jobs in rural areas, a law was passed to encourage the craft mining, and bringing industry. With the assistance of the office french for Geological and Mining Research (BRGM) research evaluation have been stepped up in this area. In this context, the government launched in July 2007 a framework of support and promotion of crafts for mining mission to organize, to develop the activities of the small mine in Cameroon, channel mining production in circuits of the formal economy and improving the conditions of artisanal mining. This program will expand into 28 sites in six of the ten provinces of Cameroon, where there is a tradition of artisanal mining. The Cameroonian government will CFAF 4.5 billion from HIPC funds, to develop this program and is awaiting the creation of jobs for rural people. Since its organization, crafts mining has already created 5,000 jobs and the government hopes to reach 15,000 jobs by 2010. Above all, the Cameroonian authorities hope, through better organization of the mining crafts, terminate the operation and especially the illegal marketing of gold, diamond and safir in mining areas.

These investment programs of industrial-sized and small mines will be maintained despite the crisis? Badel Ndanga Ndinga, remains optimistic, even if he acknowledges the difficulties ahead: "We must recognize that the momentum is currently hampered by the international financial crisis, which for some companies, slowing efforts to put into operation and exploration and how fragile juniors forces to close the doors. (...) It is for this reassuring to know that the size of some deposits discovered no longer to think about stopping the process of their operations. "

As adjunct to the optimism of the Minister Ndanga Ndinga, there are the opportunities presented by the Cameroonian mining environment: a mining code among the most attractive of the continent because of its many incentives, the fact that 60% of the territory remains unexplored, offering promising prospects for exploration activities and new inventory, a very favorable geological considered allowing just hope for good results and exploration inventories to launch shortly.