A project to edify actors and define their roles for better visibility and profitability is on.
The government of Cameroon and the World Bank have launched a project to set order in the mining sector and make it more visible and profitable for the economy and population. The project code-named, “The Mining Sector Capacity Building Project, (PRECASEM)” was officially launched in Yaounde on January 31 in a ceremony chaired by the Secretary of State in the Ministry of Mines, Industries and Technological Development, Dr. Fuh Calistus Gentry.
In a speech, Dr Fuh Calistus said the country is blessed with diverse mineral resources like gold, iron ore, cobalt/nickel, bauxite, diamond, limestone, rutile et al. Paradoxically, the sector, he noted, contributes barely one per cent to the country’s Gross Domestic Product. “Reason why PRECASEM is out to improve efficiency and transparency of mining sector management as well as the frameworks for sustainable mining development,” he said. The project, the Secretary of State added, is in line with the wish of the Head of State, who in his end-of-year address to the nation on December 31, 2012 said, “With respect to the mining sector, our attitude should be guided by two concerns: on the one hand, the State – that is the general interest – should derive due benefit from it; on the other hand, our minerals should, as much as possible, undergo primary processing before export.”
Like the Secretary of State, other speakers said for the sake of efficiency, the project will focus on institutional strengthening which consists in separating the organ that delivers exploration or mining licenses from that which does the control. It will thus improve the knowledge and access to mineral resources by exploring the rest of the over 50 per cent national territory whose mineral prowess are yet to be known as well as ensure the establishment of mineral rights and operations. It will also handle the legal and statutory framework of mining operations, mining cadastre, monitoring of mining operations, its social and environmental management as well as ensure transparency and accountability in the mining sector. The financing agreement of the project to the tune of 30 million US dollars (about FCFA 14.5 billion) was signed between the World Bank and the government on June 28, 2012 and it is expected to round off on June 30, 2017.
