Cameroon has discovered 300 new mineral mines across the ten regions of the country. The discoveries were reported of minerals like Sapphire, zinc, rare earth, uranium, nickel and manganese. The mineral exploration was undertaken as part of the World Bank project. Experts say Cameroon has still a lot of minerals embedded in it.
Even since 1960, after gaining independence, Cameroon has enjoyed political stability. This helped economic growth and development of the country’s infrastructure and the petroleum industry. The natural resources of Cameroon are mainly petroleum, bauxite, and iron ore. However, its mining industry is mostly underdeveloped, therefore, has limited exploited mineral resources, which include bauxite, petroleum, uranium, cobalt, gold, iron ore, lignite, and nickel.Cameroon’s mineral resources are under government control. Any activity relating to minerals need government permits. Many investors across the world feel that Cameroon’s business policies and conditions are very poor and hence a deterrent to foreign investment.
