The Mineral Industry Of Other Central African Countries

Cameroon's mining industry continued to be dominated by crude petroleum. The value of petroleum output was estimated at $1 billion.2 The 1982 gross domestic product (GOP) was approximately $8.4 billion. During 1981, crude oil export revenues increased in value 30%, comprising approximately 56% of Cameroon's total export earnings. The 1982-87 5-year plan emphasized, hydrocarbon and agricultural development and targeted the exploitation of bauxite and clay deposits. New petroleum legislation was promulgated on November 26, 1982. Public Law No. 82-20 detailed hydrocarbon companies' obligations concerning oil and gas discoveries and exploitation. In general, the Cameroon Government has participated in joint ventures with private companies and has levied a 57.5% petroleum tax plus adjustable royalties. Exploration expenses were paid by concession holding companies, and the Government in the past has reimbursed 50% of expenses under certain conditions.