Cameroon Banks on Mining to Offset Oil Decline and Drive New Growth

• Gold, iron ore and bauxite projects signal shift toward resource diversification
• Infrastructure gaps and regulatory frictions pose risk to medium-term execution

Cameroon is stepping up efforts to turn its nascent mining sector into a central pillar of economic growth, aiming to reduce dependence on fluctuating oil revenues. The push is underpinned by advances across gold, iron ore and bauxite projects, as the government looks to raise mining’s contribution to GDP beyond its current level of just 1%. Oil still accounts for 31% of total exports, leaving the economy highly exposed to external price shocks.