Cameroon Plans $3.1B Iron Ore Push Starting 2026

AFRICAN BUSINESS AND ECONOMYFebruary 14, 2026 at 9:08 PM UTC

TLDR

Cameroon plans to invest 1,748 billion FCFA in three iron ore projects as part of its 2026–2030 mining strategy, including Kribi-Lobé, Mbalam, and Bipindi-Grand Zambi.
Operations for these projects are set to commence in 2026, with the Mbalam project being the largest in the portfolio.
The projects aim to connect iron ore fields to export routes, with a focus on cutting transport costs and converting investments into export revenue.

Cameroon has outlined plans to invest 1,748 billion FCFA in three iron ore projects as part of its 2026–2030 mining strategy. The projects are Kribi-Lobé at 431 billion FCFA, Mbalam at 747 billion FCFA, and Bipindi-Grand Zambi at 570 billion FCFA.

Mining permits have been issued and operations are scheduled to start in 2026. The three deposits account for most of the new mining cycle set out in the government’s finance law annex on major projects.

The Mbalam project is the largest in the portfolio. Its development depends on rail links and the Kribi deep-water port, which opened in 2018 to handle bulk cargo. The project is designed to connect iron ore fields to export routes.

Kribi-Lobé is tied directly to the port complex, aiming to cut transport costs. Bipindi-Grand Zambi rounds out the plan. Together, the planned outlays exceed the average annual budget for major projects over the past decade.

Between 2010 and 2025, the government committed 7,579 billion FCFA in external financing for infrastructure. Public debt servicing reached 824 billion FCFA in 2024. The challenge is to convert these investments into export revenue.

Key Takeaways

Cameroon’s iron ore plan comes as global demand for steel inputs remains linked to construction and manufacturing in Asia. Iron ore prices have fluctuated in recent years due to China’s property slowdown and shifts in supply from Australia and Brazil. For Cameroon, the projects could diversify exports beyond oil, which has long dominated foreign exchange earnings. The Mbalam-Nabeba deposit, which extends into neighboring Congo, has faced delays over financing and rail access. Reviving it signals renewed focus on large-scale mining. The Kribi port provides capacity to ship bulk minerals, but rail infrastructure remains critical to move ore from inland sites to the coast. If executed, the projects could lift export volumes and support fiscal revenue. However, the scale of spending adds pressure to manage debt and secure stable buyers. The next phase will test Cameroon’s ability to align mining output, logistics, and global demand.

Cameroon