Dear partners,
The Network for the Fight against Hunger in Cameroon (RELUFA), through his Extractive Industries Programme, compiles and publishes bi-monthly information in French and English on Extractive Industries through “Cameroon“, “Africa” and “International” sections.
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Cameroon:
Cameroon to restructure steel producer ALUCAM
- For years now, ALUCAM has been facing operating challenges. As per the most recent figures (2019), the company’s financial liabilities amount to XAF16.8 billion and the Ministry of Finance even lists it as one of the state firms facing liquidation risks. – Plans are already ongoing for the restructuring of state steel producer ALUCAM. Source: www.businessincameroon.com
- The audits were carried out by CONSUPE with the support of the Project to Enhance the Oversight of Extractive Industries in Francophone Africa (PASIE) and financed by the Canadian government. The two published reports are on; the management of environmental and social conditions relating to exploitation in extractive industries carried out between 2015 and 2018. Source: allafrica.com
A deal signed between SONARA and SECA to mitigate environmental damages of hazardous material spills
- In June 2021, Cameroon National Refining Company (SONARA) sign a deal with Services camerounais d’assainissement (Seca) to ensure the urgent removal of hazardous substances that get spilled on the ground or at sea. The deal of XAF94.49 million contract, for 36 months, will see Seca urgently and efficiently intervene on hazardous materials (hydrocarbons, chemicals, etc…) spilled inside the SONARA’s refineries. Source: www.businessincameroon.com
A ten year repayment deal of XAF371 Bln debt to be sign between Cameroon and Oil traders
- The debt will be repaid thanks to the funds collected and deposited in the special account ‘Soutien à la raffinerie’ (support to the refinery) domiciled at the Bank of Central African States-BEAC). To guarantee the continuous provision of the account over the amortization period. This was the same agreement approved with the nine local banks in October. Source: www.businessincameroon.com
Africa:
Lawmakers in DR Congo urges for reparations over illegal Mining
- Most mining companies have not entered into a contract with the local communities and those that did have never respected it, the lawmakers said in a report presented to parliament. The members of parliament recommended the government restore order in the South Kivu mining sector by suspending all mining activity across the whole province and identifying and withdrawing where appropriate the rights of irregular mining firms and cooperatives. Source: www.rfi.fr
A new $1bndeal sign between Afriximbank with the Nigerian National Corporation
- The agreement was concluded on November 16, in Durban, during the second Intra-African Trade Fair. The transaction complies with Afreximbank’s mandate to promote local content in Africa’s oil and gas and other mining industry and generate foreign receivables into Africa, said NNPC Group CEO and executive director. Source: www.engineeringnews.co.za
Done deal by Chevron’s in Angola
- Chevron’s subsidiary in Angola, Cabinda Gulf Oil Company Limited (CABGOC) has just renewed the concession of Block 0, located on Cabinda provinces offshore. Acting Chairman of the Boards of Directors of the National Agency for Petroleum, Gas and Biofuels, considers this agreement very important, because “it means the continuity and trust of a partner. Source: www.worldoil.com
International:
China’s influence in the extractive sector over South American Continent
- As China continues expanding its influence through investment, some locals in Bolivia, Peru, and Ecuador, have pushed back and are speaking out against the emerging investment partner over issues of mistreatment and pollution. Bolivia awarded the Chinese government a 49 percent stake in their lithium. Source: www.theepochtimes.com
Decision from global miners to publish taxes and contracts in transparency drive
- Publishing contracts and taxes is a powerful weapon against corruption, enabling contracts to be compared, and creating playing field for business. This sets a global standard for good governance in oil, gas and mineral resources and is supported by 55 countries.Source: auto.economictimes.indiatimes.com
Protesters in Serbia blocks roads to opposed Lithium Mining
- For weeks, demonstrators have staged regular protests and blocked roads demanding the government reject London-based Rio Tinto, the world’s second-largest metals and mining company, which is studying the development of a lithium mine. Similar demonstrations were held in other towns and cities. Source: www.rferl.org
