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20 October 2025
On behalf of the President of the Republic, H.E. Paul BIYA, the Prime Minister, Head of Government, Chief Dr. Joseph Dion NGUTE, presided on September 22 over the official inauguration of the Bipindi–Grand Zambi iron mine (operated by G-Stone) and the groundbreaking ceremony for the Kribi Port mineral terminal, to be developed by Sinosteel Cam.
The ceremonies were attended by the Acting Director General of the National Port Authority, Mrs. Pamela AYUKETAH, along with several members of Government.
The Bipindi–Grand Zambi deposit is valued at USD 33.3 billion, with a targeted annual production of 6 million tons of iron concentrate. The State will benefit from approximately 10% of turnover, ordinary tax revenues after return on investment, and 10% dividends as part of its free equity share.
The Kribi mineral terminal, marking the launch of Phase 3 of the Kribi Port project, will not only serve the Lobe iron ore deposit operated by Sinosteel, but also other Cameroonian and regional mining sites. With a projected handling capacity of over 8 million tons per year, the project is valued at over USD 400 billion. It is expected to generate similar benefits for the State, including 10% of turnover and dividends from its free equity share.
A concession agreement between the Kribi Port Authority (PAK) and Sinosteel is to be finalized in the near future.