The new state-owned enterprise is responsible for developing and promoting the mining sector, including the purchase and marketing of gold and diamonds. A new public company is born in Cameroon! By decree signed on December 14, 2020, President Paul Biya created the National Society of Mines (SONAMINE), we learned from the 5 p.m. newscast of CRTV Radio, the public channel.
This new company, which replaces CAPAM (Support and Organization of Mining Crafts), has the State as its sole shareholder. But its capital may be open to other public or private entities, the creation text indicates. Its head office is based in Yaoundé but can be transferred to another city at the request or by the decision of its General Assembly.
Its missions consist, among others, in liaison with other competent administrations and bodies, in carrying out the inventory of mining indices, conducting studies relating to the exploration and exploitation of mineral substances, carrying out purchasing operations and marketing of mineral substances on behalf of the State, conduct mining and exploration activities for mineral substances, manage issues relating to mining sites, participate in monitoring contracts between the State and mining companies, contribute to the contribution of transparency in the mining sector.
It is exclusively responsible for the purchase and marketing of gold and diamond in Cameroon.
SONAMINE is placed under the dual technical supervision of the Ministry of Mines and the Ministry of Finance. The company is made up of a general assembly, chaired by the Minister of Finance; a board of directors and general management.
The statutes of SONAMINE will be approved by a decree of the President of the Republic. The activities of SONAMINE, six months after their start, put an end to the activities of CAPAM.
