Cameroon Diamond Mining Industry - South Korea CK Mining develop Diamond Mine Yakadouma

Yaounde, Cameroon Africa(Cameroon News) -

Russian mining major Rusal has entered into an agreement with the government of Cameroon.

United Co. Rusal Plc has inked a memorandum of intent with Cameroon’s mines ministry to look into more mining opportunities, including for bauxite, in the West African country, the company said.

Rusal will undertake a “wide ranging feasibility study of various metals and mining projects” in Cameroon, the Moscow- based company said in a statement on its website. It also has plans to purchase petroleum products in Cameroon, Rusal said.

Rusalk who earlier had major operations in Guinea has chosen to move out of the country and is looking for option of investment outside the country owing to the unstable governance in Guinea, a new government, mining reforms and regular conflicts with authorities. Cameroon has been an obvious choice not just because of the rich bauxite reserves it has but also because of its political stability and favorable investment climate.