SIGNING OF THE MINING AGREEMENT FOR THE EXPLOITATION OF THE SMALL GOLD MINE OF COLOMINE BY THE COMPANY CODIAS S.A

November 29, 2019. The Minister of Mines, Industry and Technological Development Gabriel DODO NDOKE signed the agreement for the exploitation of the small Colomine gold mine with the company CODIAS SA.

CODIAS SA is a mining company under Cameroonian law, holder since 05 January 2017, of the exploration permit called Colomine, valid for gold and related substances, with an area of ​​309 km2, located in the Arrondissement of Ngoura, Department of Lom and Djérem, Eastern Region.

The mining method envisaged to extract the gold resource from Colomine is underground mining by the pillar removal method and this mining is planned for 5 years, with a production peak of 500 kg of gold / year from the 2nd year; the first year being devoted to the development phase (construction of the mine and other mining facilities).

Colomine’s gold project has many positive spin-offs on the plans:

  • political: gold mining has so far been confined to the artisanal component, it will be the first industrial gold mine in the country, ensuring the traceability of the ore mined and making Cameroon a country producing gold on the international mining scene;
  • social:creation of many direct and indirect jobs with a view to contributing to the reversal of the youth unemployment curve and to the fight against poverty, creation of opportunities for local Small and Medium-Sized Enterprises (SMEs) and other local suppliers) for the delivery of goods and services, capacity building of local staff, transfer of skills and technologies for the benefit of national workers coupled with the training of students from Universities and Institutions, in order to have a an increasingly qualified workforce in the mining sector, carrying out CSR activities for local and indigenous populations (Development of the Tongo-Gandima Colomine road, Construction of Schools and Hospitals, Construction of boreholes to facilitate access to drinking water,…);
  • industrial: establishment of a mining value chain around gold, from on-site extraction to local processing of at least 15% of production, with the added value of creating units fusion of gold (production of ingots) and jewelry, thus contributing to strengthening the national industrial fabric;
  • infrastructure: construction for the benefit of local populations, within the framework of Local Content and Corporate Social Responsibility (CSR), schools, health center, drilling of drinking water, roads, bridges, markets and community huts, …;
  • environmental: rational and reasoned exploitation of the available gold resource, in compliance with international and national environmental rules linked to such exploitation, the safety of people and property, the protection of nature, with the key to rehabilitation and restoration of the site, upon closure of the mine.

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