Gold boosts Treasury by FCFA 3 billion

From January to September 2015, the amount of gold surrendered to Cameroon Ministry of Finance by the Support Framework for artisanal mining (CAPAM), a government body responsible for collecting from miners to the Cameroon government, amounts to 168 kg, official sources disclosed.

This amount, by gold market price corresponds to a cash value of over FCFA 3 billion.

So far, August and September 2015 were the most prolific, with 58.4 and 63.4 kg of raw gold collected respectively from mining companies, with nearly FCFA 2 billion worthy. For comparison, over the whole 2013 year, only 31.7 kilograms of gold was transferred to the State of Cameroon, against 36.8 kg throughout 2012.

The origin of this increase in gold reserves of the State of Cameroon is the strengthening of operational and financial powers of CAPAM under the production sharing contracts with operators.

On 1 August 2014, the Prime Minister, Philemon Yang, issued a decree authorizing the CAPAM to draw directly on site 15% of the production of mining companies.

These samples are distributed as follows: 70% for the state, 40% filed with the Ministry of Finance for the constitution of gold reserves, and 30% for the continuation of activities on the ground (10% to support the monitoring committee of the mechanized artisanal mining, 10% for the realization of projects for populations living near mining sites and 10% for supporting the operation of collection teams).