Project Overview
In 1994, William Buckovic came across an old study completed by the United Nations Development Programme that identified vast potential mineral deposits in Cameroon. Mr. Buckovic travelled to Cameroon to investigate and obtained a Prospecting Permit and later an Exploration Permit in what would be several years of early exploration. He soon realized the area held perhaps one of the largest resources of high-quality cobalt deposits in the world. Thus Geovic’s Nkamouna-Mada project was born. In short order, Mr. Buckovic created a local venture, Geocam, and in coordination with the government, began developing the site in South East Cameroon.
Geocam partnered with some of the world’s most respected technical experts in mine design, inspection, verification, and environmental and water protections to ensure that Nkamouna-Mada met with the most stringent international guidelines to protect the safety of workers and the environment. Geocam’s team has nearly 200 years of combined expertise in mine services and mineral resource engineering.
The Government of Cameroon granted Geocam exclusive rights and mining permits in 2003, and asked the company to enter into a joint venture to share the financial benefits of the project in 2007 with a Cameroonian owned company. In addition to the eventual exports of Cobalt and Nickel, the country will benefit greatly from Geocam’s investment in infrastructure, including the improvement of roads to transport mineral deposits to a new Hyrdromet processing plant at Kribi, potentially one of the largest deep water ports in Africa. Geocam estimates the creation of thousands of new jobs that will improve economic conditions for Cameroon’s citizens.
Geocam partnered with some of the world’s most respected technical experts in mine design, inspection, verification, and environmental and water protections to ensure that Nkamouna-Mada met with the most stringent international guidelines to protect the safety of workers and the environment. Geocam’s team has nearly 200 years of combined expertise in mine services and mineral resource engineering.
The Government of Cameroon granted Geocam exclusive rights and mining permits in 2003, and asked the company to enter into a joint venture to share the financial benefits of the project in 2007 with a Cameroonian owned company. In addition to the eventual exports of Cobalt and Nickel, the country will benefit greatly from Geocam’s investment in infrastructure, including the improvement of roads to transport mineral deposits to a new Hyrdromet processing plant at Kribi, potentially one of the largest deep water ports in Africa. Geocam estimates the creation of thousands of new jobs that will improve economic conditions for Cameroon’s citizens.
After years of collaboration, and extensive research and onsite exploration, Geocam stands at the cusp of development at a critical time in the world’s need for cobalt.
The rapid pace in manufacturing of electronic automobiles, which rely on cobalt for their batteries, accounts for 50 percent of demand in 2017. Falling costs, improved range and government commitments to electronic vehicles in China and the US will drive demand for cobalt even higher. According to the Paris Agreement, by 2050 estimated cobalt demand will be 11 times what it is now.
At present time, China produces 48 percent of the global production and is aggressively trying to control the world’s cobalt supply, which is a threat to the United States. Washington has designated cobalt as a commodity vital to its economic and national security.
The rapid pace in manufacturing of electronic automobiles, which rely on cobalt for their batteries, accounts for 50 percent of demand in 2017. Falling costs, improved range and government commitments to electronic vehicles in China and the US will drive demand for cobalt even higher. According to the Paris Agreement, by 2050 estimated cobalt demand will be 11 times what it is now.
At present time, China produces 48 percent of the global production and is aggressively trying to control the world’s cobalt supply, which is a threat to the United States. Washington has designated cobalt as a commodity vital to its economic and national security.
| Cameroon Project Overview |
| Cameroon Project PPT |