With a population of 13.6 million (World Bank, 2016), Chad covers a surface area of 1.2 million km2.
It is a stable Republic with a US$2,500 GDP per capita per annum (2013 estimate), is a member of the OHADA and EITI, and has a projected economic growth of 11.2% (African Economic Outlook, 2014). Major oil companies Total, Exxon, Chevron and Glencore have been active in Chad for several decades and Chad is a major oil producer and refiner for the domestic and international markets.
Chad has an attractive Mining Code and investment framework. Mineral exploration licenses are
granted for 5 years and are renewable twice for a total additional 10 years. Mining licenses are
granted for a 25‐years term and are renewable, with up to a 10‐year tax holiday period and a
corporate tax rate of 35% (negotiable). The State has the right for a 10% free carry and 2% royalty.
The Company looks forward to keeping its shareholders updated on progress and will announce
results of the field programmes as news becomes available.