MINING : Sonamines Negotiates Financing with China Eximbank
(LVDE) – As part of its economic diversification strategy, Cameroon is seeking to mobilize financing to develop its mining sector. On March 20, 2026, Sonamines hosted a delegation from China Eximbank in Yaoundé to explore partnerships capable of supporting high-potential mining projects, ranging from rutile and cobalt extraction to the construction of processing infrastructure.
La voix des entreprises 
Serge Hervé Boyogueno, CEO of Sonamines, and the Eximbank delegation on a visit to Cameroon
On March 20, 2026, the headquarters of the National Mining Company (Sonamines S.A) became the stage for strategic discussions between Cameroonian authorities and a mission from China Eximbank, led by Yang Bin, Head of Africa for Sovereign Loan Development. The talks brought together Sonamines’ CEO, Serge Hervé Boyogueno, and representatives from the Ministry of Economy, Planning, and Territorial Development.
At the heart of the discussions was the structuring of a financing framework for several flagship mining projects in the country. Sonamines, the operational arm of the State for the development and promotion of the sector, aims to attract technical and financial partners to accelerate the exploitation of identified deposits, including rutile in Akonolinga, the cobalt-nickel-manganese complex in Nkamouna, limestone reserves in SIKoum, as well as dimension stone sites in Mbilntangan and Alouma. The program also includes strategic infrastructure such as the construction of a gold refinery and the establishment of a mineral analysis laboratory, aimed at strengthening the local value chain.
The China Eximbank delegation was able to assess the potential of a portfolio considered promising in a country where the mining sector still contributes less than 1% of GDP, while declining oil revenues reinforce the need for economic diversification. This meeting follows the presentation of the same projects at a forum in Canada a few weeks earlier, intended to attract international investors.
Beyond these exploratory discussions, the Yaoundé meeting could pave the way for concrete cooperation. The Chinese bank could act as an intermediary with specialized companies involved in project implementation. For Cameroon, the challenge is now to turn these intentions into actual investments capable of sustainably boosting the mining sector, supporting economic growth, and diversifying national revenue sources.
Esther Grace
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Raphael Mforlem 
