Mborguene gold mine: Mines minister greenlights exploitation.

He okayed the exploitation of the gold mine in Yaounde Tuesday. This was during a ceremony to award the operating licence to the mining company, CAMINCO SA.

The minister handed the operating licence to the Chairman and Chief Executive Officer, CEO, of CAMINCO SA, Roger Bogne, marking the official launch of operations on the ground.

The handing over was witnessed by CAMINCO’s technical and financial partner, Shandong Gold Mining Company, as well as officials of sectorial administration.

The granting of the operation licence comes after the signing of a Mining Convention between the government of Cameroon and the company last March 14 in Yaounde. 

Minister Fuh Calistus said the move is in accordance with the Mining Code of Cameroon, the granting of the permit which will now enable the company to boost its activities on the field, even before the technical launch.

He assured that in line with government’s drive to put order in the mining sector, the exploitation of the mines with have to be done in strict respect of international norms.

“We are putting order in the sector and everybody has his place. Artisanal mining senso stricto. Semi-mechanise mining has its place. Semi-mechanise mining in closed systems has its place,” he said.

Prof Fuh Calistus also lauded officials of CAMINCO for choosing the Shandong company, a company with global reputation, as their technical and financial partner to implement such an important project in the mining landscape of the country. 

Prof Fuh Calistus further implored CAMINCO SA to respect the conditions of the mining convention with the first gold production expected by the end of 2026.

“…come 2026, we want Cameroon to be, because of the example of Shandong, a major name as far as mining in the larger sense, but particularly gold, is concerned. It is important to note that Shandong is a member of the World Gold Council, and therefore they have very strict norms by which they adhere to in the definition of this industry,” he pointed out while revealing the technical launch of the project is expected in the coming days ahead.

“We hope that from now on, before the expiration of this mining permit/ exploitation permit, the company of Cameroon will move to industrial exploitation given that the mines reserves, according to our projections, are enormous” he added. 

Enter CAMINCO boss

Speaking to the press at the end of the event, the CAMINCO SA CEO, Roger Bogne, said the issuance of the mining permit marks an important turning point for mining in Cameroon. 

He said with four large machines already on the project site to increase reserves, this operating licence will permit them to begin preparations for industrial mining. 

Pledging to work closely with their technical partner in ensuring the highest environmental standards in the world are respected, Bogne stressed that: “We want to develop a plan for the clean development of the area. All of this will also generate entrepreneurs, not just jobs. So, everyone who gets involved will have a stake in it”. 

Bogne added that: “We are accelerating drilling to increase the reserves and in parallel, we are preparing to launch the industrial mine. We need to develop the design concept for the two bordering cities (Betaré-Oya and Garoua-boulaï), which are already at risk from many entrepreneurs because you don't benefit from disorder”.  

Zoom on Mborguene gold mining project

Established over an area of 500 km2, the project is said to have a deposit of five million tonnes of ore with a grade of 1.89 g/t. 

It should be noted that, in addition to the 10% of shares held by the State free of charge, a production-sharing mechanism has been put in place for the allocation, from the first commercial production, of 13% of the gold produced by CAMINCO, comprising 3% for the State, 1% for SONAMINES, 4% for local shareholders and 5% for ad valorem tax.

In addition to this production sharing mechanism, there are other financial benefits such as the Mining Sector Development Fund at a rate of 0.5% of the gross annual production value; the special account for local capacity development at a rate of 0.7% of the total pre-tax turnover of CAMINCO; State concession fees set at 75,000 CFA francs/km2/year; and export tax at a rate of 5%.

Also, CAMINCO plans to develop infrastructure, transfer technology, build a training centre for ore mining and processing techniques, establish at least 20 academic internships per year for students from schools and training institutions dedicated to mining and quarrying professions, develop the project area, and increasing the purchasing power of local communities.

In accordance with the mining convention signed last March 14, the project will offer beneficial socio-economic spin-offs for Cameroon in general and the local populations in particular with more than 100 direct jobs and several indirect jobs expected to be created, thus making a significant contribution to the national economy.

This article was first published in The Guardian Post Edition No:3539 of Wednesday August 20, 2025