Mining potential

The mining potential known at 40% of the territory where research was carried out can be schematically presented on the map of mineral resources below:

Fig.1 : Map of Cameroon’smineral resources

The synthesis of the various mining titles can be summarized in the table below:
Table 1: Current titles and permits

Some of these titles, are subject to major projects, such as :

Cobalt/Nickel
The Lomié Cobalt-Nickel deposit is a world class deposit.
The promoter is the GEOVIC Company. The following works are envisaged:

• the works on the fieldhave made it possibleto discover a number of mining indices among which are, the Cobalt, Nickel manganeseindexofNkamouna, North Mag, SouthMang, Messea, Kondong, MadaandRapojombo;
• 2002, signing of a mining convention;
• 2003, a valid exploitation permitfor Cobalt, Nickel and related substances is issued toGeovic Cameroon;
• Drilling work andreserves estimated at 68 million tonnes with content for reservations:
• Cobalt: 0.26 % (2.6 kg of Co per tonne of ore);
• Nickel: 0.66 %;
• Manganese: 1.48 %.
• Cobalt is associated with several other metals (Ni, Mn, Fe, Al) in a mineral called ASBOLANE, making its treatment complex
• Earmarked annual production: 4160 tonnes of cobalt, 3280 tonnes of nickel, 45 000 tonnes of manganese;
• Cost of the project: 400 millions US$;
• The construction of the mine (cost estimated at 380 M USD) which is underway;
• Direct jobs: 300 to 400.
• Bauxite

Six bauxite indices and deposits have been identified in:

- Minim-Martap: Bauxite resources are estimated at over one billion tonnes at an average grade of 41.3% alumina.

- Ngaoundal:the Bauxite resources are estimated at 120 million tonnes at an average grade of 41-43% alumina.

Minim-Martapand Ngaoundalbauxite project
•    Promoter company: Cameroon Alumina Limited (CAL);
•    Estimated resources: 500-700 Million tonnes;
•    mining agreement under elaboration;
•    Estimated project cost: 5 to 6 billion;
•    Jobs considered: 2500 to 3000 direct jobs.
- FongoTongo: This is a research permit under exploration, but we know at least the level of resources that is 46 million with an average grade of 47% alumina.
Iron
About 25 targets and deposits have been identified the three major fields of which are:
- Mamelles:the iron resources are estimatedat 340 million tonnes at 35% of iron oxide. The promoter of this permitis the SINOSTELL CAM Company.
-          Mbalam:The iron resources are estimatedat 220 million tonnes, these resources were subjectto the signingof a convention in November 2012.
- Promoter of the project: CAM IRON S.A. (subsidiary of the Australian Sundance Resources);
- Production and export of 35 million tonnes (DSO) from the MbalamandNabebairon ores (see project file);
- Cost of the project: about 3.5 billion dollars;
- Earmarked jobs: 10 000 direct jobs.
-          Nkout:the iron resources are estimated at:
-  1.19 billiontonnes (indicated resources);
-  1.33 billion (inferred resources);
-  25 million tonnes (DSO).
             The promoter of this permit isthe CAMINEX Company.

Diamond

• Artisanal exploitation in the border area with CAR;
• Other diamond rich areas areKetté, Boubara, Lom, Boumbe 2,BetareOya,Yokadouma and GariGombo;
• Several indices are found in the Djarange (e.a.Mobilong);
• Project promoter: C & K Mining Company;
• Current situation: certification work completed;
• Start of first export: January 2013.
• The diamond deposit is about 750 million carats (geological estimate).
• Projected Investment: 250 million Eurosover 25 years.

Gold
At least 140 targets have been identified essentially:

• the Yokadoumarange,
• theLom range,
• theMbéré range,
• the Mayo Rey field.

Gold extraction project:
- African Aura Resources (UK): thecompanyis in the exploration phase and prospection permits in several regions like inBatouri, Tcholliré, Akonolinga or Rey-Bouba ;
- FMRC (Fametal Mining Resources Cameroon) (China) is in the exploration phase atMang, Boulou, Mompwe (East) ;
- Caminco (South Africa) has gold exploration permits in the North.

Otherprecious stones
Onefinds concentrations ofSapphirein the Adamawa region, particularlyinTignère, atManfé, in rivers MunyaandNsananarikati.
- Tin
We also note the presence of Tinin Mayo Darle.
- Rare earths
In the South-East of the country, we note the presence of rare earth (monazite) in the DjaRiver.
Opportunities associated to the mining sector
Other business opportunities will certainly be created around these exploration works and the opening of the mine. These would include:
1.    Laboratory (planned to be constructed and equipped by the Koreas;
2.    Infrastructures (port, roads, etc.);
3.    Manufactureofcartridgesand explosives. Development in the long term of a transformation industry.
The Mining Code provides for at least15% transformation of the ores producedon the spot, this will permit the development and implementation of the project of transformation ofIron, Cobalt, Nikel, Alumina (FECONA).

Opportunities on 60% of the national territorywhich are not yetstudied
These 60% arethusfreefor potential investors in terms of mineral exploration.

CONCLUSION
This mining potential is mainly situated in 40% of the national territory, wherethe exploration was carriedout. What still remainsnow is to carry out explorationover the remaining 60%.
The exploitation of theseresources will favour the expansionof the mining sector which, truly, will position itselfasan engineof renewed growth.

"In addition, the development of the mining sector through its culminating effects on the rural sector and its relative importance in the country’s economic structure, constitutes an important anchor around which the creation of wealth and jobs can be articulated, as well as the fight against poverty"