The invention relates to a process for manufacturing cement clinker in a plant having a cyclone preheater, a precalcination reactor, a rotary furnace and a clinker cooler. In the process, the flue gases from the furnace are conducted to the precalcination reactor, or even to the cyclone preheater. According to the invention, the precalcination reactor is fed with an oxygen-rich gas, the nitrogen content of which is less than 30%, constituting the sole oxygen source for said reactor, and a portion leaving the cyclone preheater is recycled into the plant so as to obtain a suitable flux necessary for suspending matter in said preheater, while the other portion, rich in carbon dioxide, is adapted for the purpose of a treatment for limiting the amount of carbon dioxide discharged into the atmosphere, such as particularly sequestration.