Monday, December 9, 2019

Paul Biya's nephew reportedly developed Cameroon's first industrial gold mine

The Minister of Mines, Gabriel Dodo Ndoke, on November 29 in Yaounde, signed the convention for the exploitation of the small gold mine of Colomine, in the East of Cameroon, with the company Codias SA.

The promoter of this company, Bonaventure Mvondo Assam (in white chechia on the photo), indicated, during this ceremony, that Codias SA is a mining company under Cameroonian law. Since January 5, 2017, it has been holding the Colomine exploration license, valid for gold and related substances, covering an area of ​​309 km2, located in the Ngoura district. 

"The operating method envisaged for extracting the Colomine gold resource is underground mining by the abutment method and this operation is planned for 5 years, with a production peak of 500 kg of gold. year from the 2nd year? the first year being devoted to the development phase (construction of the mine and other mining facilities)? ", we learn from the Ministry of Mines. 

According to this institution, the gold project of Colomine will be the first industrial gold mine in the country, thus ensuring the traceability of ore mined and making Cameroon a gold producing country on the international mining scene.

Moreover, this project will allow the establishment of a gold value chain around gold. It will range from on-site extraction to local processing of at least 15% of production, with the added value of creating gold smelting units (bullion production) and jewelery, thus contributing to strengthening of the national industrial fabric. 

At the social level, the government expects the creation of many direct and indirect jobs in order to contribute to the reversal of the youth unemployment curve and the fight against poverty. It is also expected to create opportunities for local small and medium-sized enterprises (SMEs) (subcontractors and other local suppliers) for the delivery of goods and services. To this must be added the capacity building of local staff, the transfer of skills and technologies for the benefit of national workers coupled with the training of students from universities and institutions, etc.

Source: investaucameroun.com