Gold mining to generate over 2 billion FCFA in revenue in 2015

Gold miners in East Cameroon, the region where virtually all mining is located in that country, are expected to pay around 2.2 billion FCFA in 2015 to the Treasury Department in ad valorem tax. This was revealed by the State Secretary to the Mining Ministry, Fuh Calistus Gentry.

Since the start of 2015, the Cameroonian government has brought in 1.7 billion FCFA via this tax. This revenue is, however, far from indicative of the real volume of gold mining in Cameroon, because of the traffic in that sector.

According to official figures, gold production in Cameroon has reached 100 tonnes per annum, but only 10% of this production is derived from the formal sector as 90% of gold produced ends up being trafficked, thus depriving the State of substantial income.