New Mining Code seduces US investors.

The two-day forum, held from August 27 to 28, under the theme: “Cameroon’s Mining Code, three years on: assessment and prospects”. 

During the workshop, officials examined concerns arising from the implementation of the mining framework. They also identified pragmatic solutions, and explored ways of further strengthening the legal, institutional and operational framework governing the mining sector.

The session was opened by the Interim Minister of Mines, Industry and Technological Development, Prof Fuh Calistus Gentry. This was alongside the Minister of State, Minister of Higher Education, Prof Jacques Fame Ndongo, and the United States Deputy Assistant Secretary of State, Robert Manogue, and the Rector of the University of Yaounde II, Prof Richard Laurent Omgba.

It was also attended by other senior university officials, American dignitaries as well as mining stakeholders. The discussion laid the groundwork for stronger economic cooperation between both countries.

Particular emphasis was on improving the business climate, promoting investment and partnerships, expanding bilateral trade, and facilitating market access. 

The discussions also provided an opportunity to highlight the wide range of investment opportunities Cameroon offers to American companies across several strategic sectors, including infrastructure, digital technology, energy, agro-industry and mining, with particular interest in critical minerals.

Enter mines minister 

Prof Fuh Calistus said at a time when rising global prices for gold, copper and strategic minerals are stimulating mining activity across the African continent, Cameroon remains largely absent from the rankings of leading African mining destinations and continues to face challenges in attracting investors.

He noted that three years after the enactment of the 2023 Mining Code by the President of the Republic, a number of positive outcomes are already evident. 

He cited the effective launch, in 2025, of the Kribi-Lobe and Bipindi Grand-Zambi iron ore mining projects, the Minim-Martap industrial bauxite mining project, the Bidzar industrial marble mining project and the Colomine gold mining project as being the fruits of the Code.

Prof Fuh Calistus noted that the outlook for 2026 focuses on monitoring projects currently entering the start-up phase, including the Mbalam, Nkout and Ngovayang iron ore mining projects, as well as the Mborguéné and Bibemi gold mining projects. 

“Taken together, these projects enable our current mining industry to be structured around four main value chains: iron ore, bauxite, limestone and gold…The development of critical minerals and rare earth elements identified in three regions of our country is also under consideration, particularly in light of the strong interest expressed by several internationally renowned mining companies,” he stated. 

The member of government announced that a joint mission with the US and Australian diplomatic missions is expected to take place shortly to assess progress made on this initiative.

Aligning with international best practices

Minister Prof Fuh Calistus mentioned that in order to align with international best practices it is necessary to make appropriate policy choices that must translate into clear and operational reforms.

He pointed that the though the State of Cameroon sought to encourage the granting of exploration permits to national companies in order to promote greater participation by Cameroonians in the mining sector, the approach has not produced the expected results.

Cameroonian participation, he said remains largely concentrated in the semi-mechanised artisanal mining sector. He further regretted that certain national operators have contributed to the proliferation of illegal practices within the mining sector. 

He decried practices of some promoters entering into partnerships to carry out semi-mechanised artisanal mining activities within exploration permit areas. Such, the Minister noted, is prohibited under the legislation in force.

Prof Fuh Calistus said his ministry has proceeded to withdrawing exploration permits associated with such improper practices. The minister said international mother companies must acquire 30% of the Cameroonian subsidiary applying for an exploration permit.

Achievements so far

Nearly three years after the enactment of the Mining Code, experts highlighted the commencement of operations at major mining projects sites and the significant restructuring of the artisanal gold mining sector. 

They said the ongoing formalisation and restructuring process of the sector encompasses environmental, fiscal, legal, technical and technological aspects. 

They added that it is done with the aim of ensuring more responsible and better-regulated mining operations that contribute more effectively to the national economy.

Experts also brainstormed on concerns raised relating to the implementation of the Mining Code. They identified pragmatic solutions and explored ways of further strengthening the legal, institutional and operational framework governing the sector.

US interest in critical minerals

US Deputy Assistant Secretary of State, Robert Manogue, said the economic dialogue with Cameroon demonstrated the interest of America in fostering trade and investment. 

He stated that Washington DC is seeking to create an economic bond with Yaounde as part of efforts to solidify its foreign policy relationships.

While acknowledging Cameroon’s unique and untapped resources and strategic position in Africz, Manogue said the array of untapped critical minerals is going to be highly solicited with the advent of technological advancement.

“It's going to consume at a furious pace over the next five, six, seven, ten years as we launch into the AI, biotech, and emerging tech world,” he added, noting that: “But if it's going to take six or seven years to get the permits and things like that, they're hitting their brakes…”.

Cameroon, the official is stated, is competing around the world, “…and you have to understand who you're competing with and what you are offering? What are the provisions you're requiring to attract this investment?” he posed. 

The US official strongly recommended a rigorous introspection into existing regulations to match with competitive international frameworks.

This article was first published in The Guardian Post Edition No:3896 of Tuesday September 01, 2026