In 2024, Cameroon achieved a remarkable milestone by doubling its diamond production to nearly 6220 carats. This significant increase from the previous year’s production of 3305.8 carats was revealed during a meeting of the Kimberley Process Certification Scheme in Yaoundé, presided over by the interim Minister of Mines, Fuh Calistus Gentry. The surge in production generated approximately 120 million FCFA in revenue for the country.
Despite this impressive growth, a substantial portion of the diamond production continues to bypass official channels, reducing potential state revenue. For instance, in 2019, only 654 carats out of 1595 produced were legally exported. The challenge of informal exploitation remains a significant issue for maximizing economic benefits.
This development highlights the rapid growth of Cameroon’s mining sector, which has historically been underutilized compared to other natural resources. The increase in diamond production not only boosts export revenues but also attracts more investment into the industry.
The Kimberley Process Certification Scheme, established to prevent “conflict diamonds” from entering the mainstream market, plays a crucial role in ensuring that diamond production benefits the country and its people. By adhering to this certification process, Cameroon aims to improve transparency and accountability in its diamond trade.
The growth in diamond production also has the potential to create more job opportunities and stimulate economic development in mining communities. However, addressing the issue of informal exploitation and ensuring that the benefits of increased production are equitably distributed remain key challenges for the government and stakeholders.
Cameroon Doubles Diamond Production in 2024, Reaching Nearly 6220 Carats
