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Cameroon revises mining code to attract foreign critical mineral investment
Cameroon updated its mining framework with Law No. 2023/014 from Dec. 19, 2023, and is also using a World Bank funded mapping program to identify deposits including iron ore and bauxite.
Cameroon is positioning its largely undeveloped mineral wealth to draw international investment as the global race for critical minerals accelerates, according to an op ed by Mining.com.
The piece says the country’s long term plan includes opening the mining sector to foreign investors by 2035, with a major step being the extensive revision of mining legislation through Law No. 2023/014 of Dec. 19, 2023, which instituted the Mining Code.
It adds that exploration projects are underway and producing and past producing mines operate in traditional mining areas, but large parts of Cameroon remain underexplored, creating potential opportunities for mining companies seeking to enter an emerging jurisdiction.
The op ed also points to efforts to curb illegal gold mining, which previously complicated tax collection and created security concerns, and to World Bank funded geochemical mapping under the PRECASEM program using the Flexicadastre system to identify deposits including iron ore, bauxite, and gold.
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