REPUBLIC OF CAMEROON PEACE-WORK-FATHERLAND DECREE No. 2020/749 OF 14 DEC 2020 to set up the National Mining Corporation
# THE PRESIDENT OF THE REPUBLIC,
Mindful of the Constitution;
Mindful of OHADA Uniform Act on Commercial Companies and Economic Interest Groups, adopted on 30 January 2014 at Ouagadougou;
Mindful of Law No. 2016/17 of 14 December 2016 to institute the Mining Code;
Mindful of Law No. 2017/11 of 12 July 2017 to lay down the general rules and regulations governing public corporations;
Mindful of Law No. 2018/11 of 11 July 2018 to lay down the Cameroon Code of Transparency and Good Governance in Public Finance Management;
Mindful of Law No. 2018/12 of 11 July 2018 relating to the financial regime of the State and other public entities;
Mindful of Decree No. 2011/408 of 9 December 2011 to organize the government, as amended and supplemented by Decree No. 2018/190 of 2 March 2018,
Mindful of Decree No. 2019/320 of 19 June 2019 to lay down conditions for implementing some provisions of Laws No. 2017/10 and No. 2017/11 of 12 July 2017 lay down the general rules and regulations governing public establishments and public corporations;
Mindful of Decree No. 2019/321 of 19 June 2019 to lay down categories of public corporations and the remuneration, allowances and the benefits of their managers,
# HEREBY DECREES AS FOLLOWS:
CHAPTER I
GENERAL PROVISIONS
ARTICLE 1: This decree sets up the National Mining Corporation, abbreviated and hereinafter referred to as "SONAMINES".
ARTICLE 2: (1) SONAMINES shall be a public corporation, with the State as sole shareholder. (2) Notwithstanding the provisions of Article 2 (1) above, the shareholding of SONAMINES may be open to other public or private entities. (3) The Articles of Association of SONAMINES shall determine the share capital as well as the conditions for equity participation.
ARTICLE 3: (1) SONAMINES shall have legal personality and financial autonomy.
PRESIDENCE DE LA REPUBLIQUE PRESIDENCY OF THE REPUBLIC SECRETARIAT GENERAL SERVICE DU FICHIER LEGISLATIF ET REGLEMENTAIRE LEGISLATIVE AND STATUTORY AFFAIRS CARD INDEX SERVICE COPIE CERTIFIEE CONFORMF
(2) The head office of SONAMINES shall be in Yaounde. It may be transferred to any other locality within the national territory by resolution of the Board of Directors, subject to ratification by the Extraordinary General Meeting.
(3) Branches, offices or representations may be set up within the national territory by resolution of the Board of directors.
CHAPTER II
DUTIES
ARTICLE 4: (1) SONAMINES shall develop and promote the mining sector in Cameroon, with the exception of hydrocarbons and quarry materials, and manage the interests of the State in the domain.
To that end, it shall be responsible in particular for:
- carrying out the inventory of mining showings, in conjunction with other relevant government services and bodies;
- conducting studies on the exploration and exploitation of mineral substances, in conjunction with other relevant government services and bodies;
- carrying out mineral substance purchase and marketing transactions on behalf of the State