Minerals of the African Continent: Cameroon Leverages BEAC Special Window to Support the Grand-Zambi Iron Ore Project

¬ Five local banks have raised 41.2 billion CFA francs (approximately 74.4 million US dollars) for Grand-Zambi

¬ Refinancing for the productive sector through BEAC "B Window"

¬ The project aims to export 1.3 million tons of iron ore concentrate annually

G-Stones Resources is the developer of the Grand-Zambi iron ore project in southern Cameroon, which will receive financing of 41.2 billion CFA francs (approximately 74.4 million US dollars) from a consortium of five local banks, including Afriland First Bank, CBC Bank, CCA Bank, BGFI Bank and UBA Bank.

According to the published terms, these funds will be refinanced through BEAC's special financing facility, the "B Window", which is specifically designed to provide financing for productive sector projects in the CEMAC region (including Cameroon, Congo, Gabon, Equatorial Guinea, Chad, and the Central African Republic).

On December 15, 2025, the BEAC held a monetary policy committee meeting in Yaoundé and approved the activation of the "B Window". However, the central bank set conditions for access to refinancing.

Committee statement: The activation of this facility requires the following conditions: first, self-financing must be completed (the amount will increase from 26.723 billion CFA francs to 27.5 billion CFA francs); second, the borrower must sign a written commitment to ensure that all funds are used exclusively for the construction and commissioning of the Grand-Zambi iron ore deposit.

Africa leads this group

African Bank, as the lead institution, will provide 16.5 billion CFA francs (CFA16.5bn). BGFI Bank Cameroon is expected to contribute 8.1 billion CFA francs (CFA8.1bn). UBA and CBC will each provide 6.6 billion and 5.7 billion CFA francs respectively, while CCA Bank will contribute 4.1 billion CFA francs.

The funding scheme of 41.2 billion CFA francs accounts for 60% of the project's estimated total cost of 68.7 billion CFA francs, excluding an estimated working capital requirement of 7.9 billion CFA francs.

G-Stones Resources, owned by Cameroonian billionaire Dioudon Bouny, has held mining rights to the Grand-Zambi deposit for 14 years. Official reserves are estimated at 150 million tons with an average grade of 29.45%.

This financing project is expected to produce 1.3 million tons of iron ore concentrate annually for export. The company stated that there is currently 600,000 tons of raw ore stored at the open-pit mine, awaiting processing.

Kribi Export Awaits a Dedicated Ore Terminal

Processed cargo exports are expected to take place through Kribi deep-water port in 2025, but the port currently lacks a dedicated mineral terminal.

The port authorities stated that existing terminal facilities are sufficient to meet the transportation needs of the first batch of goods.

Patrice Lumu, director of strategy and industrial development at Kribi Port Authority, said: "The second container terminal we recently activated has seen threefold growth in throughput over seven years. It is fully capable of receiving the first batch of goods from G-Stones Company."

On May 15, 2025, he made these statements at a seminar on "Cameroon's Mining: Economic Value, Local Processing and Community Benefits" in Douala City.

Source: ecofinagency

Original: toutiao.com/article/1857530564066304/

Statement: This article represents the personal views of the author.