Op-Ed: Cameroon’s mining moment has arrived

Cameroon has the potential to transform its largely undeveloped mineral wealth into global investment opportunities as the world races for critical minerals. During a month-long stay in April and May 2026 at the International Relations Institute of Cameroon, the author, a US Fulbright Specialist, lectured on US-Cameroon commercial law.

Through talks with students, faculty and government officials, it became clear that Cameroon possesses significant geological potential and a willingness to attract foreign investment, but realizing this potential will depend on building investor confidence. The government has included opening the mining sector to foreign investment in its long-term development strategy through Law No. 2023/014, which established the Mining Code.

Exploration projects are underway, and both past-producing and operating mines exist in traditional mining areas. However, vast, promising regions remain unexplored, offering ample opportunities for new exploration. The Minister of Mining, Industry and Technological Development, Fuh Calistus Gentry, met with the author multiple times to discuss mine development and permitting.

The government is actively encouraging new investment and development. To curb illegal gold mining, which complicates tax collection and hampers production monitoring, Cameroon is moving to formalize more mining activity within the economy. The country also holds critical minerals such as iron ore, bauxite, gold, diamonds, rutile, manganese, limestone, nickel and cobalt.

The World Bank's geochemical mapping under the PRECASEM program using the Flexicadastre system has identified these deposits, particularly in the North, Northwest and Southwest regions, where the Cameroon Volcanic Line and numerous shear zones and fault planes suggest potential for critical minerals and gemstones. The government has established a framework for companies to explore and develop these resources.

Exploration permits are issued for three years, renewable up to three times for a maximum of nine years, with the possibility of extensions based on progress. A prefeasibility study using JORC standards and an environmental study are required before an operating license is issued, with mining operations potentially lasting up to 20 years.

The legal framework contains provisions that should attract international investors, such as the ability to transfer commercial mining rights for financing transactions and farm-outs, and the requirement that foreign companies can participate as long as they establish a locally incorporated company. However, a requirement that a state-owned mining company, SONAMINES, hold a seat on the board of a new licensee raises potential fiduciary concerns.

Additionally, the process for approving mining operating permits remains somewhat opaque, with approval required from the Office of the President before the Minister of Mines can sign them. Despite these challenges, Cameroon's relative political stability in a turbulent region, coupled with unexplored mineral potential, provides a unique opportunity for international investors in an increasingly scarce global mining landscape.