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6 clusters · 13 sources · 54 days · First seen · Last updated

Categories: BUSINESS

Cameroon mining boom, gold smuggling probe, tax crackdown

Entities: Fuh Calistus Gentry · SONAMINES · Cameroon · National Economic and Financial Committee (CNEF) · René Emmanuel Sadi

Overview

Investigations in July 2026 revealed a massive gap between Cameroon’s reported gold exports (148 kg) and shipments recorded in Dubai (44 tonnes), pointing to a $3.4 billion smuggling network that allegedly involved state officials, Chinese promoters and the state mining firm Sonamines. In response, the Ministry of Mines, Industry and Technological Development announced a large‑scale crackdown starting 1 August 2026 to collect over US$500 million in unpaid taxes and duties. The operation, based on a 2023 EITI report, will inspect 51 companies that under‑reported output and 33 recently identified unregistered sites, deploy mixed tax‑customs‑treasury teams, and roll out a real‑time gold‑production tracking system. Officials aim to raise roughly 300 billion CFA francs in 2026, potentially making mining the chief source of state revenue.

A follow‑up briefing on 28 July confirmed that undeclared gold shipments over the past five years caused a fiscal loss of about CFAF 577.5 billion, with only 1.9 tonnes officially recorded versus 46.2 tonnes actually exported – a 44.3‑tonne discrepancy. At the same time, fuel imports rose to CFAF 274.3 billion while crude‑oil export earnings fell 14 % amid a partial shutdown of the Sonara refinery, underscoring broader revenue pressures on Cameroon’s extractive sectors.

Timeline

  1. about 3 hours ago

    [BUSINESS] 2 sources
    Cameroon reports billions lost to gold smuggling and rising fuel import costs

    Cameroon faces a CFAF 577.5 billion loss from gold smuggling and a CFAF 274.3 billion rise in fuel imports as oil export revenue drops, prompting new customs and tax measures.

  2. 9 days ago

    [BUSINESS] 5 sources
    Cameroon moves to recover $500 million in unpaid gold taxes

    Cameroon will start a crackdown on Aug 1 to collect over $500 million in unpaid gold taxes, targeting 84 operators and adding a real‑time tracking system to boost mining revenue.

  3. 13 days ago

    [BUSINESS] 3 sources
    Cameroon grapples with $3.4 bn gold smuggling while targeting mining boom

    Cameroon reports a $3.4 bn gold smuggling scheme while planning a mining‑driven economic shift to surpass oil revenues.

  4. 30 days ago

    [BUSINESS] 2 sources
    Kribi, Cameroon expands logistics hub as port posts record profit

    Kribi Logistics Hub Phase 2 opened and Phase 3 started, while the port posted a record CFA 4.02 bn profit in 2025, bolstering plans to make Kribi a Central African trade gateway.

  5. about 1 month ago

    [BUSINESS] 2 sources
    Cameroon pushes mining sector toward local processing as bauxite export project nears launch

    Cameroon’s Baraza 2026 forum called for local mineral processing, while Canyon Resources targets its Minim Martap bauxite project to begin exports by late 2026 via new rail and port infrastructure.

  6. about 2 months ago

    [BUSINESS] 2 sources
    Cameroon advances Kribi rail corridor and hydrocarbon terminal projects

    Cameroon signs an MoU for a rail link to Kribi port and advances a deep‑water hydrocarbon terminal, boosting export logistics and regional energy supply.

Sources

africa.businessinsider.com · africtelegraph.com · apr-news.fr · businessincameroon.com · camer.be · cameroonconcordnews.com · cameroononline.org · canal6.com.ni · congoprofond.net · financialafrik.com · gazeti237.com · rfi.fr · yabisonews.cd