YAOUNDE, July 16 – Cameroon expects annual revenue from its expanding mining sector to exceed 1 trillion CFA francs (approximately $1.75 billion) in the near term, overtaking the country’s long-dominant oil industry as new mineral projects enter production and reforms strengthen oversight of the gold sector.
Speaking at a press conference on Wednesday, Mines Minister Fuh Calistus Gentry said the revenue outlook is supported by several large-scale mining developments that have recently entered production or commissioning.
The projects include the Minim-Martap bauxite mine, the Bipindi Grand-Zambi and Kribi-Lobé iron ore projects, the Bidzar marble project, and the Colomine gold mine.
According to Gentry, additional projects are expected to advance during 2026, including the Mbalam, Nkout and Ngovayang iron ore developments, alongside the Mborguene and Bibemi gold projects.
Cameroon has traditionally relied on crude oil exports as a major source of government revenue and foreign exchange. However, the government is increasingly promoting investment in its largely untapped mineral resources as part of a broader strategy to diversify the economy and expand exports.
The minister said the country’s mining revenue projections are also being driven by an extensive overhaul of the gold sector, following the discovery that a significant share of production had been bypassing official channels.
According to Gentry, “Prior to the reform push, between 80% and 90% of gold produced by semi-mechanised miners was escaping state collection.”
To address the issue, authorities have identified more than 200 illegal mining operators, initiated legal proceedings against 137 companies, and revoked all semi-mechanised mining permits pending compliance reviews.
The government expects tax and customs reassessments to recover approximately 95 billion CFA francs from 2025 gold production and a further 300 billion CFA francs from 2026 output. Joint enforcement operations are scheduled to begin on 1 August, Gentry said.
Looking further ahead, the minister said the planned development of rare earth elements and other critical minerals could double annual mining sector revenue to around 2 trillion CFA francs, positioning mining as a key pillar of Cameroon’s long-term economic growth.
Cameroon joins a growing number of African economies, including Côte d’Ivoire and Senegal, that are expanding their mining industries to diversify exports, attract foreign investment and reduce dependence on traditional commodities.
