Extractive industries: Cameroon’s potential attracts more global mining experts, investors.

The visiting officials were speaking shortly after an audience granted them by the Prime Minister, Head of Government, Chief Dr Joseph Dion Ngute, at the Star Building. 

They were accompanied to the Star Building by the Interim Minister of Mines, Industry and Technological Development, Prof Fuh Calistus Gentry. 

Discussions particularly between the Prime Minister and Sir Samuel Esson Jonah, who now heads an investment fund, focused on the Nkamouna mining project in the East Region of the country.

The Ghanaian businessman, who has headed many mining companies, expressed keen interest in the nickel, cobalt and manganese mine at Nkamouna. 

Sir Samuel Esson Jonah who has also advised several Heads of State, including Thabo Mbeki (South Africa), Olusegun Obasanjo (Nigeria), Gnassingbe Eyadema (Togo) and John Agyekum Kuffour (Ghana), in drawing up and implementing mining code reforms assured the PM that he will share his rich experience to ensure the acceleration of the project currently being relaunched. 

He told reporters after the audience that discussions to this effect with the Star Building occupant were “very constructive”.

“We had very constructive discussions with the Prime Minister, and we are mining experts. I'm here to discuss ways of speeding up the exploitation of the Nkamouna mining project. It's a world-class mining deposit, and God has been very generous to Cameroon in placing this important deposit in its subsoil,” he told reporters. 

“We want to work with the government, the SNI and the ministry of mines to accelerate the development of this project, so that Cameroon can reap the maximum benefits," added Sir Samuel Esson whose expertise has enabled many countries to fully exploit their subsoil resources in an efficient, sustainable and environmentally-friendly manner. 

For his part, Canadian investor in hydrocarbons, Wade Cherwayko, who was also part of the delegation, expressed interest in seizing opportunities presented by the country’s rich potential in the extractive industries sector.

About the Nkamouna mining project

The reserves endorsed for the Nkamouna mining project, it should be said, are around 68.13 million tonnes and the annual production envisaged is estimated at 13.5 tonnes of cobalt, 3.3 tonnes of nickel and 62,000,800 tonnes of manganese. 

Its relaunch, has been describe as a timely step to move the country from that of having potential natural resources to that of exploiting them in order to give concrete meaning to the directives of Head of State, Paul Biya. 

This, experts say, will ensure that gold, uranium, platinum and coal make more significant contribution to the development of the country and realisation of the Head of State’s 2035 emergence vision. 

Snippet of Sir Samuel Jonah, a titan in mining industry

Sir Samuel Jonah is an expert in the global mining sector, particularly in Africa. He has extensive listed company experience, having served on the boards of various public and private companies, including Ashanti Goldfields, Anglo Ashanti, Moto Gold Mines, Vodafone Group plc, the Global Advisory Council of the Bank of America Corporation and Standard Bank Group, Roscan Gold and a Non-Executive Director of Grit Real Estate Income Group Limited. 

He is currently the Chairman of Helios Towers, a leading independent telecoms infrastructure company focused on Africa and the Middle East.

Sir Jonah joined Ashanti Goldfields Corporation in 1979 and became the Chief Executive Officer (CEO), supervising the transformation of Ashanti Goldfields into a mining multinational, increasing gold production from 240,000 ounces per annum to over 1.6 million ounces in over ten years and overseeing the company's listing as the first operating African company on the New York Stock Exchange. 

He became Executive President of Anglo Ashanti Ltd, the world's second-largest gold producer at the time, in 2004 when Ashanti merged with AngloGold Limited. Sir Jonah was instrumental in creating and building Uramin Inc., from a start-up AIM London-listed junior uranium mining company to the sale of the company in less than 24 months for $2.4 Billion. 

He also significantly transformed Equinox Minerals from a $60 Million market capitalization company to a $7.4 Billion company before selling to Barrick. 

In addition, he took Moto Gold from a $50 Million market capitalization company to a $546 Million company before selling it to Rangold. Moto Gold discovered the Kabali gold mine in DRC, which is now one of Barrick Gold's largest producing mines.

Sir Jonah became the first Ghanaian to be knighted in the 21st century when he was presented with an honorary knighthood in recognition of his achievements as an African businessman, a leading business executive from the Commonwealth, and an international public figure. 

He was elected in 2018 as a foreign member of the United States National Academy of Engineering in recognition of his distinguished leadership and technical contributions to engineering and for advancing the mineral industry in Africa.

Brief about Wade Cherwayko 

Wade Cherwayko is a natural resource executive with 35 years of invaluable experience and knowledge of the African resource sector where he has over the past three decades successfully negotiated, acquired, developed, financed and secured significant oil, gas, mining and power projects (worth in excess of $3 Billion USD) in Africa.

Cherwayko has a Bachelor of Science degree in Geology from the Northern Arizona University. He has 35 years of experience negotiating, acquiring, developing and financing significant oil and gas projects in West and North Africa, including the development of several onshore/offshore oil and gas assets in Nigeria, Namibia, Chad, Sao Tome, Tunisia, Egypt., DRC and Burundi. 

He is the CEO of Tronic Metals, an African focused critical/battery metal exploration and development company that is focused on nickel and cobalt projects in Burundi, Tanzania and recently Cameroon, by the partnership on GeoVic Minings large Nkamouna project. 

Cherwayko Co-founded Centurion Energy, a TSE listed company focused in oil & gas projects in Tunisia & Egypt. The company was sold in 2007 for US$1 Billion to Dana Gas, a UAE-based company. 

In Nigeria, where Cherwayko has spent the past 35 years, he partnered to help fund initial development of Yinka Folawiyo Petroleum & Amni Petroleum’s Nigerian oil and gas assets. He was a major shareholder and founder of Mart Resources, Inc., an African focused oil company that had a Joint Venture with Midwestern Oil & Gas. Mart and Midwestern developed the Umusadege oil field onshore Nigeria, which reached over about 30,000 barrels per day with oil and gas reserves of 80 million barrels.

Cherwayko was also the founder and CEO of Signet Petroleum, an African focused oil and gas exploration Company, which holds exploration assets in four African countries.