In view of the third edition of the Cameroon Investment Forum slated to take place from 27th to the 29th of November 2019 in Douala under the theme ‘industrialisation through import substitution’, the potential for investment in Cameroon’s mining sector has come under review by officials in that sector.
Information gathered by several researchers and actors in the mining sector in the country indicates that from 1960-1990, the Cameroon government in collaboration with international institutions like the United Nations Development Program (UNDP) and the office of Geological and Mining Research carried out studies to establish the mineral potential of Cameroon. It emerged from the studies that, 167 exploration licenses have been granted by the government, which is prove of the country’s mineral worth, however experts say only about 50% of the national territory mining data is available, suggesting that there are still enormous mineral resources begging to be for exploration in Cameroon. Current projects indicate that five licenses have already been granted for the exploitation of nickel, used in producing stainless steel, cobalt and manganese, diamond and accompanying substances in the East Region, iron ore at the Centre Region, bauxite in the Adamawa Region, uranium in the North Region. However, the million-dollar question posed by many a Cameroonian is whether all these minerals cannot be processed in Cameroon, for mineral industries to help create jobs and fight against biting unemployment in the country. The Cameroon Investment Forum coming up next week in Douala should provide the platform for stakeholders of the sector and would-be investors to look for ways of promoting investment ventures in the country.