Cameroon’s mining ambitions surged to new heights this week as Prime Minister, Head of Government, Dr. Chief Joseph Dion Ngute, gave a major boost to the Kribi-Lobe Iron Ore project, one of the largest mining ventures ever undertaken in the country.
Chief. Dr. Joseph Dion Ngute Flanked by Other Government Officials.Fresh from launching the Bipindi-Grand Zambi Iron Ore Project earlier in the day, the Prime Minister and his delegation travelled to Kribi, where he laid the foundation stone for the construction of a state-of-the-art mineral terminal, a crucial component of SINOSTEEL’s Cameroonian operation.
A Project of Global Scale
The Kribi-Lobe deposit boasts an estimated reserve of 632 million tonnes of iron ore, with an average grade of 33%, giving it a projected lifespan of 45 years at a production rate of 8 million tonnes of iron concentrate annually.
Cross Section of Government Officials, Others. Officials place the total value of the deposit at a staggering $36 billion (over 21 trillion FCFA), describing it as a game-changer for the country’s industrialization drive.
“This project represents not just a mine, but a long-term engine for economic transformation,” Dion Ngute said, stressing that Cameroon’s share will include 10% of SINOSTEEL’s turnover, dividends, and additional tax revenues once investment costs are recovered.
Mineral Terminal to Handle Millions of Tonnes
The mineral terminal, to be constructed under a concession agreement with the Port Authority of Kribi (PAK), will have an initial capacity to ship 14 million tonnes of iron concentrate annually.
Symbolically Laid Lobe Mineral Terminal Foundation Stone.Officials further revealed that SINOSTEEL’s modular terminal could eventually handle up to 47.5 million tonnes of ore, generating substantial revenues for the public treasury through joint management with PAK.
Strategic Vision for Mining
The Prime Minister emphasized that the Kribi-Lobe project aligns with President Paul Biya’s Vision 2035 and the National Development Strategy (SND 2020–2030), aimed at transforming Cameroon into a regional industrial hub.
“The Head of State has made mining one of the pillars of our economic emergence,” the President Paul Biya's convoy said. “Projects like Kribi-Lobe will not only create jobs but also strengthen our infrastructure and energy sectors.”
Cross Section of Dignitaries During Ceremony.Officials also disclosed that similar benefit-sharing principles will be applied to other high-potential deposits in Mbalam, Djoum II, Ntem, and Ngovayang, which are said to contain even richer reserves than those of Bipindi-Grand Zambi and Kribi-Lobe.
A Boost for the Local Economy
Local authorities and residents of Kribi welcomed the announcement, citing the project’s potential to generate employment, spur small business opportunities, and reinforce the city’s status as Cameroon’s emerging industrial capital.
Observers say Wednesday’s ceremony marked more than just a groundbreaking. It symbolized Cameroon’s entry into a new era where iron ore could become one of the country’s top export earners driving economic diversification and strengthening the country’s role in global supply chains.
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