30 Nov. 2020
The company Bestway Finance Limited (BFL) through its subsidiary Sangha Mining Development Sasu is granted, in the Republic of Congo, the mining deposits of Avima, Badondo and Nabeba through the attribution, by presidential decrees n°2020-645, n°2020-646 and n°2020-647 respectively, of three 25-year Exploitation Licenses named "Avima", "Badondo" and "Nabeba".
13 Mar. 2021
Sangha Mining Development Sasu signs three 25-year (renewable) mining conventions with the Republic of Congo, concerning Avima, Badondo and Nabeba. Sangha Mining Development Sasu has the freedom to choose the initial extraction route for the minerals for which they are responsible.
April To June 2021
In partnership with AustSino Resources Group Limited (ANS), Bestway Finance Limited is in negotiations with the Ministry of Transport (MINT) for the eventual construction of 510 km of railroad track linking Ntam to the port of Kribi and a mineral terminal at the port of Kribi; two large-scale infrastructures with a common processing capacity of more than 100 million tons of iron per year.
May 25 to May 28, 2021
Work visit in Cameroon of the Congolese Minister of State, Minister in charge of Mining Industries and Geology, His Excellency Pierre OBA, in view of the development of a mining project in the area overlapping the State of Cameroon and that of Congo.
This work visit follows the granting of three Exploitation Licenses by presidential decree of November 30, 2020 to Sangha Mining Development Sasu, for the exploitation of the Avima, Badondo and Nabeba iron ore deposits for a 25-year period
As far as President Denis SASSOU-NGUESSO's emissary is concerned, the aim is to work with Cameroon to boost the economy and develop the infrastructures of both States.
It' s a busy program that awaits the Minister of State Pierre OBA in Yaounde. He is received in audience by the highest authorities of the country including President Paul BIYA and Prime Minister Joseph Dion NGUTE. Pierre OBA also discussed the problem of transport and evacuation infrastructures for iron ore with the Minister of Transport.
And with the Minister of Finance, the discussions focus on the customs and tax aspects and the advantages that these two States will be able to draw from the exploitation of the three aforementioned deposits.
25 Jun. 2021
The State of Cameroon represented by the Minister of Transport Jean Ernest Masséna NGALLE BIBEHE and the Minister of Mines, Industry and Technological Development (MINMIDT), Gabriel DODO NDOKE, signed with BFL and ANS, a memorandum of understanding (MoU) relating to the construction project of nearly 510 km of railroad line linking Ntam on the Congolese/Cameroonian border to the seaside town of Kribi and a mineral terminal with a processing capacity of 100 million tons of iron per year at the Port of Kribi.
This memorandum of understanding marks the willingness of the State of Cameroon to join forces with the Republic of Congo in the development of the iron ore deposits located along the Kasai craton.
The two parties agree to work together in good spirit, in order to establish a schedule of activities, to complete the synthetic feasibility studies and to undertake the administrative procedures necessary to finalize the project.
They agree to discuss and negotiate legally binding documents concerning the construction, commissioning, operation and transfer of the railway, the mineral terminal and other infrastructure associated with these two major works.
07 Jul. 2021
Creation, by decision of the MINT, the main interface of the State of Cameroon in the matter, of the Technical Team in charge of monitoring and evaluating the activities of the MoU signed on June 25, 2021.
It is made up of representatives of the different structures and public administrations involved in the implementation of the project. Among others, CARPA, MINTP, MINT, MINMIDT, MINFI, MINEPAT, MINFOF, MINDCAF, MINEPDED and PAK. Of course, Bestway Finance Limited and AustSino Resources Group Limited are also represented in this Technical Team placed under the authority and supervision of the Minister of Transport and under the coordination of the Secretary General of MINT.
17 Aug. 2021
Holding of the first session of the Technical Team under the chairmanship of the Minister of Transport. Opportunity chosen by Bestway Finance Limited and its partner AustSino Resources Group Limited to present, with materials, the technical and financial offers of the two components of the project, and then submit to their appreciation for validation, the synthetic feasibility studies.
A workshop at the end of which several recommendations and observations are made by the representatives of the administrations and public structures involved in the implementation of the project.
Oct. 04 to Oct. 05, 2021
Workshop on the examination of the level of implementation of the observations and recommendations made on August 17, 2021. Basically, each of the administrations and public structures involved said they were satisfied with the level of consideration given by private investors to opinions and concerns aimed at defending the interests of the State.
Also, very sensitive to the patriotic fiber that emerges around the project, the State of Cameroon is committed alongside private partners, to participate in the construction of something never thought, never imagined in the CEMAC zone, comforted by the idea of writing a golden page in the annals of the history of mining in Cameroon.
Nov. 2021
Validation of the feasibility studies relating to the construction of the railroad line linking Mbalam to the port of Kribi and a mineral terminal at the port of Kribi, which are certified by the KPMG firm. The Ministry of Transport, in charge of the project, submits to his colleague in charge of Finance the request for a budgetary sustainability opinion for the project.
Dec. 22 to Dec. 24, 2022
The Congolese Minister of State Pierre OBA is in Yaounde to assess the progress of the mining project that crosses the two countries. This time, the emissary of Brazzaville is received in audience, on behalf of the President of the Republic, by the Minister of State, Secretary General at the Presidency of the Republic, Ferdinand NGOH NGOH.
From the discussions he has had with the Minister of Transport and the Minister in charge of mines, the emissary of President Denis SASSOU-NGUESSO returns to Brazzaville, obviously pleased with the progress made in the development of this common project between the two neighboring countries.
27 Dec. 2022
Bestway Finance Limited and its partner AustSino Resources Group Limited obtain approval from the Cameroonian government for the budgetary sustainability of the project, signed by the Minister of Finance, Louis-Paul MOTAZE. Given the State of Cameroon is not spending a single franc in return for the financing of the project, it is now up to the private partners to produce the elements that guarantee the financial sustainability of the project.
04 Jan. 2022
Following the opinion on the project's budgetary sustainability, CARPA (Conseil d'Appui à la Réalisation des Contrats de Partenariat), the body responsible for supporting the implementation of public-private partnership contracts in Cameroon, issues a favorable opinion on the project's eligibility for the PPP contract regime.
11 Jan. 2022
The presentation of technical and financial offers by investors is on the agenda of this workshop of the Technical Team, chaired by the Secretary General of the Ministry of Transport. A work session that leads to a mutual understanding on the need to take joint action to move forward as quickly as possible towards the conclusion of binding agreements.
Feb. 17 to Feb. 19, 2022
The Secretary General of the Ministry of Transport is leading the workshop for the negotiation of the partnership contract between the government and private partners for the construction of the railroad linking Mbalam to the port of Kribi. The aim is for the participants to proceed, without qualms, to the scrutiny of the draft contract submitted for their validation.
This work session follows the very high instructions of the President of the Republic, Paul BIYA, echoed by the Minister of State, Secretary General of the Presidency of the Republic in his letter of February 10, 2022, requesting the Minister of Transport proceed urgently, in liaison with the Minister in charge of mines, to sign the binding contract in BOT mode in favor of Bestway Finance Limited and its partner AustSino Resources Group Limited, relating to the construction of the railroad line linking Ntam to Kribi and the construction of a mineral terminal in the port of Kribi.
Feb. 23 to Feb. 24, 2022
Bestway Finance Limited and its partner AustSino Resources Group Limited are working with the Port of Kribi to finalize the documents relating to the port concession agreement.
25 February 2022
On very high instructions of the President of the Republic, the Minister of Transport Jean Ernest Masséna NGALLE BIBEHE, alongside the Minister of State Pierre OBA, who was welcomed in the morning on behalf of the Head of State, by the Minister of State Secretary General at the Presidency of the Republic, proceeded to the signing of the partnership contract for the construction of the railway linking Ntam to the Port of Kribi with Bestway Finance Limited represented by its Managing Director and its Administrative and Financial Director and AustSino Resources Group Limited represented by its CEO. Under the watchful eyes of half a dozen members of the government and special guests selected by the handful.
25 February 2022
At the same time, the Director General of the Port of Kribi signed with the same private partners, the concession agreement for the mineral terminal in the port of Kribi.
We are now before a complete administrative framework which binds the private party as to his willingness to build these two infrastructures in the Republic of Cameroon and Congo. From an administrative point of view, all the conditions have been met to allow for the effective start of the construction of the two infrastructures.
Many More To Come
Stay tuned !