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Business: Cameroonian company, CODIAS S.A, wins gold mining deal in Ngoura.
Business: Cameroonian company, CODIAS S.A, wins gold mining deal in Ngoura.
Minister Ndoke Gabriel and CODIAS S.A boss signing the mining agreement
Industrial mining concessions in Cameroon have always been taken over by foreign companies. But CODIAS S.A, a Cameroonian concern, has successfully broken that monopoly by obtaining the license to exploit gold deposits in Ngoura district of the Lom-et-Djerem Division in the Eastern Region of Cameroon.
The Minister of Mines, Industry and Technological Development, Dode Ndoke Gabriel, on November 29, 2019 at Mont Febe Hotel, signed a mining agreement with the Cameroonian company.
The agreement gives authorization to CODIAS S.A to exploit gold deposits in the Ngoura district of the Lom-et-Djerem Division in the Eastern Region of Cameroon.
The agreement emanated from research work conducted over a land surface of 20km square which confirmed gold deposits present in a vast area covered. CODIAS S.A through this opportunity is expected to produce 48545 tons of ore in five years with 1867.42kg in quantity of gold.
According to an interview granted to the press by the Minister of Mines, Dode Ndoke Gabriel, the mining deal will bring enormous opportunities to Cameroonians and more to the local population.
“We have hope that mining will henceforth become an alternative source of income to our country. For the employment plan, you heard there will be 500 direct jobs and 1500 indirect jobs. The local population will benefit from the project following the provisions of the mining law”, said Minister Dode Ndoke Gabriel as he presided over the signing of the agreement.
He said mining has become an opportunity for investors and that the project will be a heavy factor in financing the budget of the country.
In addition, the project will bring infrastructural developments to the area and the local population will become the beneficiaries of these amenities. CODIAS S.A is also expected to build capacities by training experts and other workers to equip them with sufficient skills to better their efficiency in the sector.
The Board Chair of CODIAS S.A, Bomivan, thanked the head of state who continuously shows confidence in the local entrepreneurs. He said the capital of this contract is exclusively Cameroonian and reassured ambitious people in the sector to give in their best, so that together jobs needed to take the country forward can be made possible for Cameroonians in Cameroon.
“I take this opportunity to encourage Cameroonians interested in the same domain to be informed of the existing opportunities in the mining sector,” Bomivan added.
He thanked the Chinese who assisted his company in research work that earned the confidence of the Cameroonian government.