A consortium of investors has signed an agreement with the Port Authority of Kribi (Pak) to develop a $2bn, large-scale mineral terminal with a capacity of 125m t/yr, which could position Cameroon as a key mineral export hub in Central Africa.
The partnership, formalised on 4 November 2025 in Yaoundé, brings together the Pak, National Social Insurance Fund (CNPS), Bestway Finance Ltd/AustSino Resources Group Ltd, G-Stones Resources, and Camina SA.
The agreement outlines the technical, financial, and legal framework for the project to be constructed within the Kribi Deep Sea Port complex.
Bestway Finance Ltd’s director general Alexandre Mbiam said the project will be executed in phases.
“We are first going to build a marine jetty with a capacity of 30 million tonnes per year, then move up to 125 million tonnes per year and if need be, 150 million tonnes per year” he explained, describing the development as a key step in expanding Cameroon’s maritime infrastructure.
Pak director general Patrice Melom highlighted the project’s strategic importance to the port’s expansion drive.
“We will need this infrastructure. We thought that it was good for us to gather all these companies and to see how we can move forward together financially, technically, so that very quickly we can build the infrastructure,” said Mbiam.
Overview of Cameroon’s mining sector
Cameroon is rich in mineral resources, including gold, bauxite, cobalt, iron ore, nickel, rutile and nepheline syenite.
Historically, mining activity was limited to artisanal operations, especially in alluvial gold extraction.
However, recent years have seen a shift toward industrial-scale mining, driven by global demand and government initiatives.
Mining and quarrying accounted for 5.2% of Cameroon’s GDP in 2024, according to figures released by the National Institute of Statistics, underscoring the sector’s economic potential.
In 2024, its gold production surged by over 20% and the government has launched four new large-scale mining projects, which continue to attract foreign direct investments.
In the coming years, Cameroon’s mining sector is expected to:
- Expand industrial mining operations across multiple mineral types.
- Increase gold exports and diversify into cobalt and nickel, crucial for battery technologies.
- Foster international partnerships to develop mining infrastructure and technology.
What the project mean for Cameroonians
Officials say the planned terminal also supports Cameroon’s broader goal of developing a dedicated steel cluster within the Kribi industrial zone.
The initiative also includes strong local employment targets.
“Seventy percent of the employment goes directly to the local population. After five years of starting operations, we want 95% of the jobs — including senior positions — to be for the local population,” Mbiam said.
It will strengthen the domestic steel value chain and pave the way for the first iron ore exports from the Mbalam-Nabeba deposits, projected for December 2025.
The terminal development builds on Pak’s recent growth performance.
The deep-sea port handled 12.7m tonnes of cargo in 2024 — a 17.7% annual increase — with over 390,000 containers already processed since the start of 2025.
With more than $2bn in projected investment, the mineral terminal marks the third development phase of the Kribi Deep Sea Port — one of Central Africa’s largest maritime hubs.
In July, Cameroon had also inaugurated the construction of a 30,000 b/d crude oil refinery in the Kribi industrial-port zone.
The $200m modular plant is being built by RCG Turnkey Solutions in partnership with Global Process Systems (GPS) and Norinco International and is expected to be commissioned in mid-2028.