Economy

American Renaissance Minerals wades in to rescue Nkamouna Cobalt project.

Officials at end of meeting

Washington-based American Renaissance Minerals, ARM, is in Cameroon to actualize the interest it showed in investing in the ailing Cobalt and Nickel exploitation project in Nkoumouna, in the Upper Nyong Division of the East Region.
A release issued on Wednesday, September 23 by the United States Embassy in Yaounde stated that ARM plans to inject some 85 million USD; which is about 49 billion FCFA to further develop the Nkamouna cobalt-nickel-manganese project.

The initial investment, the release stated, will cover the cost of building a processing plant at the mine site. It targets first production within 18 months of the permit taking effect, and additional investment in modules to follow once in production.

The Americans gave assurance that ARM brings mineral processing expertise, financing capacity, and global mining investment experience into this wobbling project.

While the initiative is backed by American capital, US government support, and a commitment to responsible development in partnership with Cameroon and a local Cameroonian partner firm.

The investment, the Americans say, reflects a growing US-Cameroon economic partnership that is focused on mobilising private sector investment, developing strategic industries, expanding commercial opportunities, and supporting mutually beneficial growth.

They described Nkamouna as one of the largest undeveloped nickel-cobalt projects globally, which past owners have already put in up to 120 million USD; which is approximately 69 billion FCFA.

With the Cameroon government also contribution 40 million USD; which is about 23 billion FCFA; as counterpart funding. The Embassy stated that ARM is a dedicated consortium formed by Aeternum Resources Inc. (AETN), a US-listed critical minerals company, and US private equity firm American Renaissance Resources.

Aeternum is the project delivery partner, led by Paul Mann, Founder and Chief Executive Officer of ASP Isotopes Inc. With all the partners led by a team with a record of engineering and commissioning mineral processing plants across Africa.

This article was first published in The Guardian Post Edition No:3920 of Friday September 25, 2026