Jindal Steel and Power in talks with Cameroonian govt for Ngovayang iron ore project

The Finance Minister of Cameroon, Louis Paul Motazé granted an audience April 29 to Harvinder Singh, who leads international projects within Indian steel giant Jindal Steel and Power, in the presence of Guillaume Negou Tela, MD of Camina SA, Jindal’s subsidiary, and tax authorities.

There has been huge progress towards the operationalization of the Ngovayang Iron Project in Cameroon’s Eseka. The discussion mainly focussed on the development of project including suggestions to tackle technical issues encountered with the finance administration, to ensure effective progress in works. They evoked tax incentives that will help facilitate carrying out the project; a project whose potential is yet to be officially estimated, as reported by Business in Cameroon website.

In the end, Harvinder Singh opined that he was quite pleased to have a discussion with Louis Paul Motazé who is having tremendous enthusiasm in the implementation of project. “We are already well advanced. We have finished developing the mine site map and we have started with the exploration phase based on our three licenses, while evaluating the site. Currently, we are conducting feasibility studies to fulfil the conditions required for the smooth running of the operation, including compatibility with the environment,” he said, Cameroon Tribune noted.

Indian steel giant Jindal Steel and Power has been operating the Ngovayang iron ore deposit for the last 5 years after it acquired the interests of Australian Legend Mining in the project for USD 17 million. The project covers three licenses of about 2,970 square kilometres.

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