Cameroon New Mining Law

Dear Member,
With reference to the letter sent to our Chamber by TOBB, the letter of the Ministry of Trade dated 24.05.2024 and numbered 97168206 forwarded to our Union, with reference to the letter received from the Ministry of Foreign Affairs, states that the President of Cameroon, Paul Biya, approved the bill on the new Mining Code on 19 December 2023.
In this framework, it is stated that it aims to encourage and support investments in the mining sector in order to contribute to the economic and social development of Cameroon, and that the said Law regulates the recognition, exploration, exploitation, possession, transportation, processing and marketing of mineral substances throughout the entire territory of the Republic of Cameroon, its continental shelf, territorial waters and exclusive economic zone.
In addition, the said letter of the Ministry of Foreign Affairs states that, with the New Mining Code, the powers of the country's national mining company, SONAMINES, in this field have been increased, and that, in light of the Private Investment Incentives Law and the New Mining Code, the Government of the Republic of Cameroon invites Turkish institutions and mining companies to cooperate with SONAMINES.

Kind regards,
Elazığ Chamber of Commerce and Industry