Equatorial Guinea has become one of the Biggest hubs of Mining in Africa, the mining journey hasn’t been an easy ride as there have been a lot of issues as to how to make use of the country’s mineral resources fairly for growth and development. It hasn’t been an easy journey and we at Africa MaxMining; Equatorial Guinea’s Leading Mining Service Provider have put together the history of Equatorial Guinea’s mining industry. Let’s take you through it.
The Genesis of their Mining Journey
The people of Equatorial Guinea, have always produced gold and iron before being colonized by Spain. During their colonisation, there were no largescale mining operations. After 1968 when they became independent, some geologists found potential deposits of gold, tungsten, bauxite, tin, and coltan. Additional surveys conducted by GEMSA, a Spanish-Equatoguinean joint venture, and UMCEG (Ocean Energy, previously named United Meridian Corporation) performed airborne and land surveys, as well as the creation of the Geographic Information System (GIS) databases.
Currently, the regulation of mining in Equitorial Guinea is handled by the Ministry of Mines and Hydrocarbons, which oversees activities in the mining and petroleum industries. Also, the government claims ownership of all mineral resources and regulates them under law 9/2006 (replacing the former Mining Law, 9/1981).
Petroleum exploration and production is the core of Equatorial Guinea’s economy and accounts for over 90 per cent of Equatorial Guinea’s national income. This has resulted in the country’s mineral resources taking a back-seat and their exploration essentially neglected for a long time. Apart from some minor gold mining operations, no particular effort has been made toward commercial mining of minerals. The Equatoguinean government has conducted preliminary explorations that they believe show potential mining opportunities for diamonds and coltan
Ministry of Mines is now promoting the country’s mining potential in hopes of attracting investors hence the recent signing of the first-ever mining contracts by the Ministry of Mines and Hydrocarbons of Equatorial Guinea to start undertaking large scale mining operations in the country.
As the mining industry grows, we here at Africa MaxMining Strive to become one of the commanding Voice in Africa’s Mining Industry as we begin operations in Ghana and Beyond.
References
“Equatorial Guinea: Mining”. MBendi. Retrieved 2008-05-01.
“Hydrocarbons and Mining in Equatorial Guinea” (PDF). Ministry of Mines, Industry, and Energy. Archived from the original (PDF) on 2008-11-13. Retrieved 2008-05-01
“2006 Minerals Yearbook: Equatorial Guinea” (PDF). United States Geological Survey. Retrieved 2008-05-01.
