Cameroon: Colomine gold mine could generate FCFA 35 bn a year

Cameroon is about to mark a turning point in its mining sector with the imminent commissioning of the Colomine gold mine, located in the Eastern region. This first underground mine in the country, piloted by the Cameroonian company Codias SA, promises to transform national gold mining.

With an estimated annual production of 20,000 ounces of gold, the Colomine gold mine could generate up to 35 billion FCFA (around 60 million USD) in revenues per year, according to Mines Minister Fuh Calistus Gentry.

With an estimated annual production of 20,000 ounces of gold, the Colomine gold mine located in Ngoura in Cameroon’s Eastern region could generate up to 35 billion FCFA (around 60 million USD) in revenues per year, according to an announcement by the country’s Ministry of Mines. Piloted by the Cameroonian company Codias SA with the participation of the Société Nationale des Mines (Sonamines), this project is part of the government’s strategy to diversify its revenues by exploiting deposits such as the Mbalam-Nabéba iron ore and the Kribi-Lobé project.

Reaching depths of over 100 meters, the construction of the Colomine gold mine represents a significant step forward for the Central African country. The agreement signed in September 2022 between the French government and Codias SA provides for initial production of 500 kg of gold per year, or around 41.6 kg per month.

source: Africa24