【Ferro-alloys.com】：ASX-listed Canyon Resources has highlighted development progress at its Minim Martap bauxite project, in Cameroon.

Following the recent election in the country, which eventuated in the re-election of President Paul Biya, the country has returned to a ‘business as usual’ footing, Canyon points out.

The company informs that minor delays to work on the ore haulage access road will be made up by the contractor, which will bring in additional equipment to ensure the project remains on track.

Construction of an ore haulage access road is ongoing and all clearing has been completed, with focus now on inland rail facility (IRF) access and Danielle plateau access.

Canyon’s rail access from the IRF to the Port of Douala will be operational in the second quarter of 2026, with transport capacity initially targeting two-million tonnes a year and subsequently up to ten-million tonnes a year, once the PQ2 rail upgrade is completed.

The company is currently reviewing a strategy to subsequently increase this capacity to up to 15-million tonnes a year.

CEO Peter Secker highlights that discussions with Camrail remain “highly constructive” regarding an increased stake, enabling deeper involvement in key infrastructure upgrades.

“This forms an essential element of our strategy to derisk the company’s mine-to-port logistics pathway.”

The first surface miner is scheduled to arrive in Cameroon in January and start mining on site in February.

Engineering designs for the IRF have been completed and switchgear, tracks and sleepers for the IRF, stations and port have been ordered with delivery scheduled for February.

The IRF remains on track for completion by May.

Road haulage of first ore from mine to the IRF is scheduled for March.

Locomotive and wagon fabrication is nearing completion and on schedule for shipment in January and delivery in the first quarter of 2026.

First ore haulage from the IRF to the port stockpile will start early in the second quarter of 2026.

Approval for port access dredging has been received and will start in January.

Engineering of the port site has been completed and construction of the port stockpile area will start in January.

Final tenders for bauxite transhipping are currently being reviewed and a transshipping contractor will be confirmed in the first quarter of 2026.

Canyon is on track to start mining at Minim Martap in the first quarter of 2026, with the maiden bauxite shipment to be made in June.

At the AGM held on November 25, shareholders approved the about A$70-million equity raise pursuant to Tranche 2 of a previously announced placement to Afriland Bourse & Investissement.

The remainder of Tranche 2 of the equity raise, comprising a placement of A$100-million to Eagle Eye Asset Holdings is subject to shareholder approval which will be sought at a general meeting to be held in January.

Completion of this tranche of the equity raise is expected in the first quarter, subject to the required shareholder approval.

On December 1, three-million fully paid ordinary shares in the company were issued following the exercise of three-million unquoted options for total receipts of about A$400 000 by executive chairperson Mark Hohnen.

“Canyon remains fully financed to Stage 1 production, via a combination of both debt and equity facilities, with strong backing from key domestic and international investors, along with critical in-country stakeholders,” Secker says. 

• [Editor:Alakay]