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Cameroon: American Businessman to invest at least 240 Billion frs in cobalt sector

HE Peter Ballerine (left) Mike Mason (middle) Paul Biya (right)

The American businessman Mike Mason intends to invest at least 240 Billion CFA frs in Cameroon’s cobalt sector within the next four years.

The American Businessman who is the Chief Executive Officer of Geovic Mining Corporation made the announcement yesterday in an audience granted him by the head of state Paul Biya at the Unity Palace.

Accompanied to the audience by the US Ambassador to Cameroon Peter Henry Ballerine, Mike Mason expressed his intentions to exploit Cameroon’s cobalt, a strategic resource that the later has in abundance in its East region, one of the best in quality in Central Africa.

Cobalt is used in the manufacturing of telephones, aeroplanes and batteries.

According to the business mogul, this will create about 700 direct jobs, provide schools for training and colleges for technology transfer in order to develop the industry in Cameroon.



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