(Business
in Cameroon)
Officially presented on June 17, 2015 in Yaoundé, the
last report by the National Monitoring and Implementation Committee for
the Mining Industry Transparency Initiative (ITIE), reveals that, in
2013, the mining sector generated 830 billion FCFA in total sales, which
is 5.4% of the country’s GDP. This revenue was, however, down by 2%
compared to 2012.
As
is customary, these earnings were primarily generated by the oil
industry, which is currently the country’s most dynamic, structured
sector. According to ITIE figures, Société nationale des hydrocarbures
(SNH), the State’s oil mining company, generated over 500 billion FCFA
in revenue , against 202 billion FCFA for 14 other oil companies which
were examined by the ITIE’s national committee.
The
report, however, reveals new sources of wealth for Cameroonian exports.
These include diamonds, sapphires, marble, granite, limestone, clay and
gold which are currently in quantities that are still considered to be
insignificant.
When News Breaks Out, We Break In. (The 2014 Bloggies Finalist)
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