Cameroon extractive sector faces transparency and mining delays

Cameroon’s extractive sector faces significant challenges regarding transparency and stalled mining projects. The country is currently under temporary suspension by the Extractive Industries Transparency Initiative (EITI) due to a low score of 53 points, primarily stemming from weaknesses in civil society engagement.

Financial difficulties are complicating compliance efforts. The independent administrator, Enerteam, has reported unpaid arrears for the 2023 EITI report and previous work. This delay threatens Cameroon’s ability to meet strict reporting deadlines, including the requirement to submit the 2024 report by the end of 2026.

Simultaneously, the Geovic Cameroon project in Lomié remains inactive despite a presidential decree granting exploitation permits in 2003. Although the site holds millions of tonnes of cobalt, nickel, and manganese reserves, the project has failed to establish processing plants or deliver promised local infrastructure and employment. The situation is marked by speculative capital raises on the Toronto Stock Exchange and opaque financial structures, leaving local communities with unfulfilled promises of economic development.