Landry Djimpe, a partner at Innogence Consulting, a strategy and competitive intelligence advisory firm focused on African markets, advises companies, investors and financial institutions on high-stakes decision-making, with particular expertise in the mining sector. A member of the Cameroonian diaspora with deep knowledge of Africa’s extractive industries, he has worked extensively with mining stakeholders across the continent, particularly in the Democratic Republic of the Congo, a country with more than a century of mining history.
Ahead of Baraza Mining 2026, which he is co-organising and which will take place on June 11, bringing together government officials, mining companies, investors, experts and civil society representatives to discuss the future of African mining, Djimpe shares his perspective on what he describes as “Cameroon’s defining moment.”
How can Cameroon turn geological potential into industrial reality? With significant deposits of iron ore, bauxite, gold and cobalt, the challenge is no longer simply one of discovery. It is about building the infrastructure, energy capacity, governance frameworks, transparency standards, processing capabilities and local participation needed to support a competitive, responsible and sustainable mining industry that creates lasting value for the country.
Business in Cameroon: Baraza Mining Forum 2026 is taking place as several Cameroonian mining projects reach a critical juncture. How can the forum produce outcomes that go beyond networking?
Landry Djimpe: Baraza Mining Forum 2026 must be neither a celebration nor a simple networking exercise. Its value will depend on its ability to generate measurable commitments, concrete roadmaps, and actionable tools that endure beyond the event itself.
That is the purpose of the Cameroon Mining Playbook 2026, which seeks to structure an integrated strategy around three priorities: industrialisation, technical training, and innovative financing models. The objective is clear: to help Cameroon move beyond the raw-material export model and lay the foundations for greater local value addition.
Not all mining projects in Cameroon are at the same stage of development. Broadly speaking, they fall into three categories: projects nearing production, projects slowed by logistical or legal constraints, and projects still undergoing restructuring or further study.
We are also making available an interactive data dashboard that maps a project pipeline worth more than $5.5 billion, covering Minim-Martap, Colomine, Ngovayang, and Mbalam-Nabeba. This tool is designed to confront geological potential with the economic reality of a mining sector that still makes only a limited contribution to the national budget.
A useful forum is one whose conclusions can be monitored, evaluated, and translated into action by policymakers, investors, financial institutions, and industry leaders.
BIC: Which Cameroonian mining projects are genuinely close to entering industrial production, and which are still at the planning or development stage?
LD: Not all mining projects in Cameroon are at the same stage of development. Broadly speaking, they fall into three categories: projects nearing production, projects slowed by logistical or legal constraints, and projects still undergoing restructuring or further study.
Among the projects closest to production, Minim-Martap and Grand-Zambi are the most advanced.
At Minim-Martap, trial mining operations have begun on the Daniel Plateau, with a first shipment expected by the end of the third quarter of 2026. The project is among the closest to commercial production because the operator has secured part of its logistics chain through investments in rail and port infrastructure.
Grand-Zambi is also well advanced. According to our data, more than 600,000 tonnes of raw iron ore have already been extracted and stockpiled. The operator has secured CFA 68.7 billion in financing, including a syndicated local loan of CFA 41.2 billion, to install a beneficiation plant and prepare for exports through temporary facilities at the Port of Kribi.
The Colomine gold project represents another important milestone. Operated by Codias, it is Cameroon's first underground gold mine and is targeting production of up to 50 kg of gold per month.
The second category includes major projects whose progress has been slowed by external constraints.
For the Kribi-Lobé iron ore project, Sinosteel has already invested CFA 120 billion, and the state has formalised its free-carried 10% stake. However, first exports have been postponed until 2027, pending adjustments to the project schedule and the completion of energy and port infrastructure.
The Mbalam-Nabeba project is even more complex. It represents a $9.3 billion mining corridor, but its full development depends on the construction of a 540-km heavy-haul railway and the resolution of the dispute between Cameroon and Sundance Resources before the International Chamber of Commerce in Paris.
The third category consists of projects that remain under restructuring or are still progressing through the development cycle.
The Ngovayang iron ore project, developed by Jindal Steel & Power, has moved forward following the completion of preliminary engineering studies.
As for the Nkamouna-Lomié cobalt project, the government revoked Geovic's permit in 2025 and transferred it to Sonamines, which is now seeking an industrial partner capable of mobilising the CFA 300 billion required to bring the project into production.
BIC: Is geology still the biggest hurdle to unlocking Cameroon’s mining potential, or have financing, infrastructure and governance become the real bottlenecks?
LD: The main bottleneck is no longer geological. It is structural. Cameroon has significant mining potential. But between a known mineral deposit and a mine capable of producing, transporting and exporting at scale lies a demanding set of requirements: rail infrastructure, port capacity, reliable energy supply, financing, regulatory stability, social acceptance and effective governance.
For years, the country has been defined more by its potential than by its execution. The challenge now is to turn geological resources into operating mines. No major mining project can become competitive without a credible logistics solution.
The real issue, therefore, is the development of shared infrastructure. Cameroon cannot sustainably build separate logistics and energy systems for every mining project. It needs integrated mining corridors that connect deposits to power generation, rail networks and export ports.
The Minim-Martap project illustrates this reality. To prepare for its first shipment, Camalco, a subsidiary of Canyon Resources, went beyond the traditional role of a mining operator and invested directly in logistics infrastructure. The company injected CFA 9.852 billion to increase its stake in Camrail to 26.9% and acquired a 42.8% stake in the Timber Terminal at the Port of Douala. The message is clear: without a secure transport corridor, even a world-class deposit remains a promise.
Grand-Zambi highlights the same challenge. The project required a syndicated local loan, a dedicated power-supply agreement with KPDC and temporary export facilities at the Port of Kribi in the absence of a dedicated mineral terminal.
The real issue, therefore, is the development of shared infrastructure. Cameroon cannot sustainably build separate logistics and energy systems for every mining project. It needs integrated mining corridors that connect deposits to power generation, rail networks and export ports.
BIC: The Minim-Martap mining permit is often presented as a turning point. What is still missing for this project to become an industrial reality rather than merely a legal one?
LD: A mining permit is a decisive step, but it does not in itself guarantee production. For Minim-Martap to become a commercial reality, the biggest challenge remains export logistics.
The deposit contains more than 1.1 billion tonnes of bauxite, with an alumina content of 51% and only 2% silica. But it is located in the Adamawa region, more than 800 kilometres from the coast. Ore quality alone is therefore not enough. Large volumes must be transported to export markets reliably and at a competitive cost.
The most viable model is shared infrastructure. Building a railway, port terminal or power plant for a single mining operator is rarely economically sustainable. Rail corridors, ports and electricity networks need to be developed as shared assets serving multiple mining and industrial projects.
That is why Camalco did not stop at securing a mining permit. The company invested in Camrail to secure rail capacity under the network modernisation programme and acquired a stake in the Timber Terminal at the Port of Douala to secure storage and handling capacity.
The real test for Minim-Martap will therefore not be legal but operational. The project's success will depend on its ability to extract, transport, store, load and export bauxite at scale and within the announced timelines.
BIC: Can Cameroon build a competitive mining industry without resolving the long-standing challenges of rail infrastructure, port capacity and electricity supply?
LD: No. Without large-scale infrastructure, even a world-class mineral deposit remains an untapped resource.
Cameroon’s main iron ore and bauxite deposits are located far from the coast. Their competitiveness therefore depends on logistics costs, rail capacity, port infrastructure and access to reliable electricity. This is especially true for bulk commodities, where transport costs can have a major impact on profitability.
The most viable model is shared infrastructure. Building a railway, port terminal or power plant for a single mining operator is rarely economically sustainable. Rail corridors, ports and electricity networks need to be developed as shared assets serving multiple mining and industrial projects.
The decisive factor, however, remains energy. Metals are not transformed with intentions but with megawatts. Power must be available, reliable and competitively priced.
The 420-MW Nachtigal hydropower plant can play a pivotal role in this regard. But installed capacity alone is not enough. Power must be available at competitive prices and supported by long-term supply arrangements that give investors confidence.
Only then can Cameroon move beyond isolated extraction projects and develop an integrated mining economy capable of generating greater industrial value and export revenues.
BIC: The stated ambition is to move beyond raw exports. Does Cameroon currently have the industrial and energy capacity needed to develop integrated mining value chains?
LD: The ambition is already embedded in the Mining Code, which requires that at least 15% of extracted minerals be processed domestically. The challenge now is to turn that legal requirement into industrial reality.
The bauxite-to-aluminium value chain offers the clearest example. Cameroon already has an aluminium smelter, Alucam, but it still imports alumina. With Minim-Martap expected to come on stream, the country has an opportunity to build a more integrated value chain, from bauxite extraction and alumina refining to aluminium production and the manufacture of semi-finished and finished products.
The PROALU project in Douala is part of that vision. Backed by an investment of CFA 88 billion and scheduled to begin operations in 2027, it aims to produce aluminium coils, cables and sheets locally. The project could create around 1,500 direct jobs while saving more than CFA 30 billion in foreign exchange each year.
The decisive factor, however, remains energy. Metals are not transformed with intentions but with megawatts. Power must be available, reliable and competitively priced. Alucam is still operating below capacity, with an estimated annual shortfall of CFA 23 billion linked to around 30,000 tonnes of unused production capacity.
The challenge, however, lies in implementation. Local SMEs can still be excluded by the technical, financial, environmental and safety standards required by large mining companies. They may be prioritised in principle, yet lack the capacity to compete in practice.
For iron ore, the near term is likely to be dominated by exports of beneficiated concentrate. The development of a domestic steel industry will take longer and require substantially greater investment.
BIC: Two years after the adoption of the 2023 Mining Code, what evidence is there that it is improving investment attractiveness, transparency, local content and local value addition?
LD: The 2023 Mining Code has laid the foundations for a more ambitious and nationally driven mining model. The main challenge now is turning legal provisions into tangible results.
In terms of investment attractiveness, the Code has clarified the framework governing mining titles and strengthened financial requirements. Investors must demonstrate equity equivalent to at least 25% of the estimated cost of development before they can obtain a mining permit. This is an important safeguard against speculative licence holding.
On transparency, the picture is more mixed. Sonamines' exclusive purchasing rights for gold and diamonds, combined with the domestic processing requirements introduced in January 2026, could help formalise and better regulate mineral supply chains. However, Cameroon still faces well-documented governance challenges in the extractive sector, particularly with regard to beneficial ownership disclosure.
Revenue sharing is one of the Code's most significant innovations. It includes a mandatory contribution of 0.5% to 1% of multinational companies' turnover for local capacity building, the allocation of 25% of extraction taxes and royalties to affected communities, and the creation of escrow accounts at the central bank to fund environmental rehabilitation.
That is why local-content policies must go beyond quotas. The resources generated by the sector should be used to finance training, certification, business upgrading and access to finance for Cameroonian SMEs.
The state has also secured a free, non-dilutable 10% stake in mining projects. The issue is therefore no longer the quality of the legal framework itself. The real challenge is whether the country has the administrative and operational capacity to translate these provisions into revenues, infrastructure, jobs and opportunities for local businesses.
BIC: What indicators should be used to determine whether mining projects are creating meaningful benefits for Cameroonian SMEs, workers and local communities beyond their statutory obligations?
LD: Local content must be measured, not just proclaimed. The 2023 Mining Code already contains ambitious provisions: 95% of unskilled jobs must be reserved for Cameroonian nationals, priority must be given to local subcontractors, 25% of extraction taxes and royalties are allocated to affected communities, and multinational operators must contribute between 0.5% and 1% of their turnover to local capacity-building initiatives.
The challenge, however, lies in implementation. Local SMEs can still be excluded by the technical, financial, environmental and safety standards required by large mining companies. They may be prioritised in principle, yet lack the capacity to compete in practice.
That is why local-content policies must go beyond quotas. The resources generated by the sector should be used to finance training, certification, business upgrading and access to finance for Cameroonian SMEs.
Success should be measured through clear and publicly available indicators: the number of contracts awarded to local companies, the value of local procurement, the number of permanent jobs registered with the CNPS, the amounts transferred to local authorities, and the delivery of community development projects.
Without transparent performance indicators, local content risks remaining a policy objective rather than an economic reality.
BIC: ITIE, ESG and traceability standards are frequently invoked. Why are they not sufficient, on their own, to guarantee sector transparency?
LD: International standards are valuable, but they cannot substitute for political commitment, public disclosure and effective oversight.
The EITI experience illustrates this well. Cameroon scored 53 out of 100 in its latest validation, with notable weaknesses in beneficial ownership disclosure. In practice, this means it can still be difficult to determine who ultimately controls certain mining permits and who benefits from the revenues they generate.
If transparency is to have a meaningful impact, the sector must move towards proactive, project-level disclosure. That includes publishing mining contracts, production volumes, tax payments, environmental commitments, beneficial ownership information and local-content obligations.
Traceability remains a major challenge, particularly for gold and diamonds. More than 10 tonnes of gold and 100,000 carats of diamonds are estimated to leave the country through illicit channels each year, much of it destined for the United Arab Emirates. Cameroon is also exposed to informal cross-border flows from neighbouring countries.
If transparency is to have a meaningful impact, the sector must move towards proactive, project-level disclosure. That includes publishing mining contracts, production volumes, tax payments, environmental commitments, beneficial ownership information and local-content obligations.
BIC: Sonamines is emerging as a central player in the sector. Does this strengthen the state's ability to drive mining development, or does it create potential conflicts between regulatory, commercial and ownership roles?
LD: Sonamines can be an accelerator, but only if its role is clearly defined. Today, the company performs several functions. It acts as the state's commercial arm, manages the purchase and marketing of gold and diamonds, participates in certain mining projects, and represents the state's strategic interests in mining companies. This concentration of responsibilities can help accelerate project development, but it can also create risks if the boundaries between regulation, commercial activity and state ownership are not clearly drawn.
Regulatory functions must remain the responsibility of the state and the competent ministry. Sonamines, for its part, should operate as a strategic investor, a commercial vehicle and a mechanism for managing and enhancing the value of state-owned stakes.
Its achievements are nonetheless significant. The company collected 640 kg of gold in 2024, now benefits from the closed-circuit processing requirements, and is developing a refinery project designed to meet London Metal Exchange standards. It also manages the state's free 10% stake in projects such as Kribi-Lobé and Colomine.
The second priority is infrastructure. Cameroon needs to move beyond a project-by-project approach and develop integrated mining corridors combining rail, ports, energy, industrial zones and logistics services. Investors should be involved in financing these assets, but through shared infrastructure models rather than standalone project developments.
Its role in the Nkamouna-Lomié cobalt project is equally strategic following the transfer of the permit previously held by Geovic. However, the greater Sonamines' influence becomes, the greater the need for robust governance, transparency, independent audits and a clear separation of functions.
BIC: In a sector full of announcements and ambitious plans, how can we tell the difference between mining projects that remain promises and those that are delivering tangible economic benefits?
LD: The key is to focus on actual investment and project execution, not simply on announcements.
Cameroon has already experienced significant gaps between announced commitments and realised outcomes. Between 2014 and 2022, figures from the Investment Promotion Agency show that CFA 1,764 billion was actually invested out of CFA 2,856 billion announced, or roughly 61%. The gap is even more striking when it comes to employment: 14,354 jobs were created compared with 42,697 initially promised.
To avoid repeating this pattern in the mining sector, project performance needs to be tracked through a public and independently auditable dashboard. At a minimum, five indicators should be monitored.
The first is actual capital expenditure deployed on the ground and verified through tax records or independent audits. The second is the number of permanent local jobs created. The third is the share of procurement and subcontracting awarded to Cameroonian SMEs. The fourth is the sector's net fiscal contribution to the state budget. The fifth is the proportion of mineral output that undergoes local processing before export.
These indicators make it possible to distinguish between projects that exist largely on paper and those that are generating real economic value.
BIC: If the Baraza Mining Forum is to produce three tangible outcomes before 2027, what should they be?
LD: The first priority must be regulatory. The regulations needed to implement the 2023 Mining Code should be finalised in order to reduce legal uncertainty and provide greater predictability for both investors and local communities. Outstanding disputes, particularly those relating to Mbalam and Nkamouna-Lomié, should also be resolved.
Supporting Baraza should not be a means of buying influence. It should be a way of contributing to an open, rigorous and useful debate about the future of mining in Cameroon.
The second priority is infrastructure. Cameroon needs to move beyond a project-by-project approach and develop integrated mining corridors combining rail, ports, energy, industrial zones and logistics services. Investors should be involved in financing these assets, but through shared infrastructure models rather than standalone project developments.
The third priority is performance measurement. The country should establish a public mining dashboard tracking investments, production, exports, employment, tax revenues, local procurement, environmental commitments and transfers to local authorities.
If these three priorities are addressed, Baraza can become more than another forum for discussion. It can serve as a mechanism for tracking implementation and holding stakeholders accountable for results.
BIC: How do you guarantee that Baraza's sponsors and partners will have no influence over the choice of panels, speakers or recommendations?
LD: The forum's credibility depends on its editorial independence. At Baraza, that independence is safeguarded through autonomous governance overseen by a consortium of independent organisations. Partnership agreements explicitly exclude any right for sponsors to influence the forum's editorial content, including the selection of panels, speakers or recommendations.
This independence is essential because the forum must be able to address difficult and sometimes sensitive issues. These include Cameroon's suspension from the EITI, beneficial ownership disclosure, illicit gold and diamond trade routes, the role of Sonamines, local content policies, taxation, environmental management and the distribution of mining revenues to local communities.
Supporting Baraza should not be a means of buying influence. It should be a way of contributing to an open, rigorous and useful debate about the future of mining in Cameroon.
Interview by Baudouin Enama & Amina Malloum