Hey everyone I hope you all are fine and doing great. Today I'm going to Write about the Country Cameroon and It's gold reserves and how gold reserves are playing their role in It's economy.
Overview
It is a country Situated in Central Africa. It is bordering Chad to northeast, Nigeria to the West, Central African Republic to the west , gabon, centeral Arican Republic to the east and republic of the congo to the south.
It has a diverse Geography including coasline along the Atlantic Ocean, rainforests , savannas and rainforests. Cameroon has different kind of mineral resources which includes Gold also.
Gold Reserves & History.
Cameroon Gold reserve history is not much old and it dated back to 19th Century. 200000 Ounces is the current amount of Gold that the country Holds during this hard time.
although this number is likely to be much higher, as much of the country's gold is mined informally and smuggled out of the country.
Country's Gold reserves are found in the Eastern part of the Country, Especially in the Area of Betare Oya and Batouri.
Small Scale Mining ( ASM)
Country Gold reserves are held and managed by Small scale mining, It is Currently providing emplyment to 300,00 people and also contrubuing to 20 % of total Gold exports and 20 % of Cameroon's Total exports.
Challenges
In recent years, there has been growing concern about the environmental impact of gold mining in Combodia and Country is facing some Challenges which i'm listing below
- Lack of Infrastructure
- Inadequate Regulation
- Insufficient Investment:
- Water pollution
- Emission Of dengrious Chemicals.
- Regulation and Enforcement:
The Governament Of Cameroon is trying it's level to work on all the challanges they are facing when it comes to Gold mining.
Conclusion
Cameroon has significant potential in its gold reserves, but the country's gold industry faces several challenges that limit its growth and development. The government has taken steps to address these challenges.