Industrial Policy & Trade Monitor· 2663 actions· ✨ 89 recent

President Paul Biya signed Loi n°2023/014 on 19 December 2023, replacing the 2016 mining code (Loi n°2016/017) and significantly enlarging state control over Cameroon's mineral sector. The law vests SONAMINES (Société Nationale des Mines) with an exclusive statutory monopoly over the purchase and commercialisation of gold and diamonds nationwide, mandates a 10% non-dilutable free-carry equity stake for the state in all mining enterprises, and introduces a production-sharing mechanism (1–5% of finished product for precious substances; 2–15% of raw ore for others) layered on top of revised ad valorem royalties (5% for precious metals, 3% for base metals, 10% for radioactive substances). The code provides the legal framework for SONAMINES-led reindustrialisation of large iron-ore and bauxite projects, including Mbalam-Nabeba and Minim-Martap.

The Council of the EU adopted Council Regulation (EU) 2023/2878 of 18 December 2023, the EU's 12th sanctions package against Russia, entering into force 19 December 2023. The package introduces a direct EU import ban on Russian non-industrial natural and synthetic diamonds and diamond jewellery effective 1 January 2024, followed by a phased indirect ban on Russian diamonds processed in third countries (from 1 March 2024, complete by 1 September 2024), developed as part of a G7-coordinated diamond restriction. The package also extends import bans on steel and other products generating significant revenue for Russia, and adds further trade and economic restrictions.

Sierra Leone's National Minerals Agency gazetted the Mines and Minerals Development Regulations 2023 (Statutory Instrument No. 9 of 2023) in May 2023 as the primary implementing instrument for the Mines and Minerals Development Act 2022 (Act 16). The Regulations repeal and replace the 2009 Regulations, establishing operational frameworks across five licence categories. Key provisions include a mandatory 10% non-dilutable free carried interest for the state in large-scale licences, an option for the state to acquire up to 35% additional equity on negotiated terms, mandatory community development agreements (minimum 1% of gross revenue), and environmental impact assessment and environmental bond requirements for all categories.

Sierra Leone's Parliament enacted Act No. 22 of 2023, establishing the Sierra Leone Mines and Minerals Development and Management Corporation (SLMMDMC) as a state body corporate mandated to carry out minerals and mining development, management, and related activities on behalf of the Republic. The Corporation operates through government-approved "project companies" (public-private vehicles) constituted under the parent Mines and Minerals Development Act 2022, with its Board responsible to the Minister for Mines. The Act enables Parliament-approved allocation of specific mineral assets to the Corporation for development, creating the institutional architecture for systematic state participation across Sierra Leone's strategic mineral sector — including rutile, ilmenite, bauxite, diamonds, iron ore, and critical minerals identified in subsequent national strategy instruments. The Act entered into force on 15 June 2023 and is the implementing parent for the Allocated Minerals Regulations (SI No. 11 of 2024).

Sierra Leone's Parliament enacted Act No. 16 of 2022, a landmark overhaul of the country's foundational mining legal framework replacing the Mines and Minerals Act 2009. The Act establishes a reformed licensing architecture (exploration → large-scale mining licence pipeline), enhanced royalty and compulsory state-participation provisions for large-scale licences, and strengthened local-content, artisanal-and-small-scale mining (ASM), and beneficial-ownership- disclosure obligations. The National Minerals Agency (NMA) is empowered as the primary regulatory body; the Act received presidential assent on 21 March 2023 and commenced 12 May 2023, forming the statutory parent for all subsequent Sierra Leone minerals legislation including the SLMMDMC Act (Act No. 22 of 2023) and the 2026-2031 Critical Minerals Strategy.