Technology Minerals completes field placement of boundary beacons in Cameroon

Technology Minerals, a UK-based company, has completed the field placement of beacons marking out the corners of the company’s five licenses in Cameroon.

The placement of beacons was done in accordance with Cameroonian Mining Law by a local company, Explorers 33 Consulting Group. The company also conducted consultations with all local villages falling within the five licenses areas as required by the terms of the exploration license agreements.

Exploration license

Exploitation  of  natural  resources  often  has negative  consequences on  the local  communities who  live  in  project  areas. Local communities are often frustrated when they see “their” resources disappear, their lives destroyed, and no concrete improvements in their standard of living.  It  is  in  recognition  of  the negative  impacts  of  these  projects  on  local communities  and  the  environment  that  the Cameroonian  Government  provides  a  royalty  at the local level in some economic sectors, notably mining and forestry.

A report summarizing these activities will be submitted to the Ministry of Mines, Industry and Technological Development this week. The CEO of Technology Minerals, Alex Stanbury, expressed his satisfaction with the completion of the beacons placement and consultations, and he is looking forward to beginning exploration work on the ground.

The company is targeting potential areas of high-grade cobalt-nickel laterite, which are critical minerals needed in the manufacture of technologies that will enable a lower carbon future. Cameroon has a strong geological potential for a number of mineral resources that, if well managed, could support economic growth. The country contains potentially large deposits of iron ore, gold, bauxite, diamond, limestone, nickel, and gemstones, and indices of other numerous minerals and precious metals