To maximise revenue collection: Hon Cavaye urges gov’t to speedily implement new Mining Code.

He made the call Saturday, November 9, while chairing the closing plenary sitting of the November Session of Parliament. 

The session was attended by members of government and other dignitaries. 

The third and last session of parliament for the 2023 financial year, which began on November 10, was dedicated to the examination and adoption of the 2024 State Budget. The session wrapped up with the adoption of eight bills.

The Finance Bill approved by the lawmaking body, which has been sent to the President of the Republic for enactment into law, is estimated to be balanced in revenue and expenditure at 6,740.1 billion FCFA. 

Meanwhile, amongst the eight bills adopted by the House Chamber, was that on the new Mining Code. 

Call for prompt execution on new Mining Code 

In his closing speech, the House Speaker expressed delight with the strategic bill relating to the new Mining Code, which was defended by the Interim Minister of Mines, Industry and Technological Development, Prof Fuh Calistus Gentry. 

The newly adopted Mining Code, which is a revision of the 2016 Mining Code, is said to revolutionise the mining sector into becoming a key player in the country’s drive towards emergence by 2035. 

“The numerous aspects taken into account in the provisions of the 2023 Mining Code make it an avant-gardist legal instrument if, indeed, there is any,” Cavaye said, adding that “while waiting for possibilities to refine its provisions in future, the 2023 Mining Code has come to buttress the point that was made on mineral exploitation in Cameroon, under the New Deal during the opening speech of the session now ending”. 

According to Hon Cavaye, the 2023 Mining Code is eloquent proof of the determination of the Head of State, Paul Biya, to transform Cameroon from a country of mining potential to a mineral producing and exporting country. 

“I would, therefore, like to exhort Government to see to it that the Code is meticulously implemented,” Hon Cavaye urged. 

Calls for synergy between gov’t, stakeholders

The House Speaker reiterated the need for different stakeholders and government ministries concerned to work in synergy in order to collect maximum revenue from mineral exploitation under the New Deal.

“I appeal to some stakeholders to tone down their differences and jointly exploit mineral resources sustainably,” he stressed. 

Cavaye then used the opportunity to salute the prospects of an improving relations between the Kribi Port Authority and the Cameroon subsidiary of the Chinese state-owned mining corporation, SINOSTEEL, charged with the exploitation of the Kribi-Lobe Iron Ore Project in the South Region. 

“I would also like to exhort Government to pursue the implementation of projects it has started and to complete their implementation. Our enterprises must be accountable,” he asserted. 

Revisiting recently adopted Mining Code 

On November 21, Prof Fuh Calistus Gentry, defended the revised Mining Code during a heated debate session on the bill, prior to its eventual adoption by the General Assembly of the House Chamber. 

The legal instrument was validated by lawmakers after it went through the scrutiny of the Production and Trade Committee. 

During that general debates, chaired by Senior Deputy House Speaker, Hon Hilarion Etong, it was revealed that the adopted bill is made up of 200 sections with 24 innovations on the former code. 

Prof Fuh Calistus had used the opportunity to announce that with the new Mining Code, Cameroon will not more be a country of potential, but of mining reality with the possibility of starting the exportation of iron ore in Cameroon in 2024. 

He then assured the MPs that the bill seeks to “remedy the shortcomings” of the previous law and “incorporate the attractiveness, competitiveness and financial profitability concern that can help to fast-track the implementation of transformational mining projects and increase the solid minerals sector’s contribution to the Gross Domestic Product in the short or medium term”. 

Prof Fuh Calistus also explained that the 2016 legal instrument did not take into account the existence of National Mining Corporation, SONAMINES, reason many sections of the law had to be revised. 

“This law brings in SONAMINES to represent the state in mining companies and will also give SONAMINES the right to buy gold in order to build gold reserves in the nation,” he revealed.

The bill, he had further explained, allows SONAMINES to take part in the nodal value, which permits the state not to depend solely on dividends, but take part in the next nodal value so that its interests are guaranteed. 

The bill, Prof Fuh Calistus had told the MPs, also envisages that Cameroonians will have up to 35% minimum in quarries and also gives SONAMINES the right to directly collect taxes as a law, unlike in recent past when the body was mandated by the Director of Taxes to do it on its behalf.