Mining

Gabon set to revise its mining code to turn into “destination of choice for investors”

Wednesday, 08 July 2015 14:07

The mining sector in the African context is “highly competitive” and has pushed a lot of African countries, some with lesser mineral potential than Gabon, to change their legal framework.

This is, in a nutshell, the point of view of Fabrice Nzé-Békalé, CEO of Société Equatoriale des Mines (SEM), who expressed himself in an interview given on 6th July to GabonReview.com.

He estimated that, for Gabon who wishes to become “a very important mining country, the revision of its old code is a must to not be left on the sidelines of these dynamics and to position itself as a destination of choice for investors”.

SEM’s CEO further clarifies that the new mining code of Gabon is a result of the synergy of its various participants. Praising the assets of this legal arsenal, he reports that the document makes provision for the state to benefit from a guaranteed 10% in every mining project in operation. “The state will also have the option to increase its participation up to 35% but it will have to negotiate the sales price of the next 20%”, he explained, adding that the code clearly defines that these shares will held by SEM on behalf of the state.

On the same topic
Ivanhoe Mines produced first concentrate at Platreef on Nov. 18, marking the official start of Phase 1 operations. Phase 1 will produce 100,000...
Egypt’s new offshore field West El Burullus started output at 45 million cubic feet per day, with a target of 75 million cubic feet per day after two...
Industry Promotion Fund explores partnerships with three Singapore agencies Talks focus on governance, digital tools, and efforts to attract...
Findings strengthen the case for a 2026 Final Investment Decision and shift the project’s economic outlook. BW Energy restructures to accelerate...
Most Read
01

DRC minister visited Huawei China center to boost AI training cooperation Talks focused on launch...

DRC, Eyeing AI for Farms and Mines, Seeks to Launch Academy with China’s Huawei
02

DRC met Alibaba, Isoftstone to discuss adapting China’s e-commerce model Joint working group ...

DRC in Talks with Alibaba, Isoftstone to Develop a Chinese-Style E-Commerce Model
03

China says Premier Li Qiang will attend instead of President Xi Jinping The U.S. and Russia also ...

South Africa Loses More Support as Xi Jinping Also Skips the G20 Summit
04

Ghana to allocate $2.8B in 2026 budget for major road infrastructure push Funding targ...

Ghana to Allocate $2.8 Billion for Road Development in 2026
05

Powered exclusively by Rolls-Royce Trent 7000, delivering 14 % lower fuel burn per seat and f...

Airbus Delivers First of Ten Rolls-Royce Trent 7000-Powered A330-900neo to Air Algérie
Enter your email to receive our newsletter

Ecofin Agency provides daily coverage of nine key African economic sectors: public management, finance, telecoms, agribusiness, mining, energy, transport, communication, and education.
It also designs and manages specialized media, both online and print, for African institutions and publishers.

SALES & ADVERTISING

regie@agenceecofin.com 
Tél: +41 22 301 96 11 
Mob: +41 78 699 13 72


EDITORIAL
redaction@agenceecofin.com

More information
Team
Publisher

ECOFIN AGENCY

Mediamania Sarl
Rue du Léman, 6
1201 Geneva
Switzerland

 

Ecofin Agency is a sector-focused economic news agency, founded in December 2010. Its web platform was launched in June 2011. ©Mediamania.

 
 

Please publish modules in offcanvas position.