
February 03, 2025
Canyon Resources Limited (ASX: CAY) (‘Canyon’ or the ‘Company’) is pleased to announce that the location of its Inland Rail Facility (‘IRF’) has been approved by the Government of Cameroon. In addition, Canyon’s in- country subsidiary Camalco Cameroon SA (‘Camalco’) has been allocated 105 hectares of land by the Lamido of Ngaoundere to be used for future additions to the IRF and associated infrastructure.
The signing of this land approval marks another major milestone achieved by the Company in the rapid development of the Minim Martap Bauxite Project (‘Minim Martap’ or ‘the Project’).
The approved IRF location is strategically situated near the existing Makor Railway Station, enabling seamless integration with existing local infrastructure and enhancing construction efficiency. The timing of the approval for the IRF location and allocation of additional land, comes shortly after the underwriting agreement with Eagle Eye Asset Holdings Pte Ltd (‘EEA’) to finance the purchase rolling stock for the development of Minim Martap.
The rapid succession of these milestones underscores the strong commitment of Canyon’s major shareholder, EEA, and dedication of relevant authorities in Cameroon, to advance Minim Martap towards production status.
Canyon is focused on progressing key logistical and infrastructure solutions to further de-risk the Project and support the ongoing Definitive Feasibility Study (‘DFS’). Upon completion and at the commencement of production, the IRF will be used as a loading station for wagons of Bauxite ore brought by road from Minim Martap before transport via the main rail line to port, using the Company’s own rolling stock.
Mr Jean Sebastien Boutet, Canyon Chief Executive Officer commented: “The approval for the location of the Inland Rail Facility is a timely achievement for the Company following the recently announced underwriting agreement with EEA to finance the purchase of rolling stock. Key details from these agreements are being factored into the ongoing Definitive Feasibility Study and the increased oversight of logistics provides Canyon stability in progressing our Project.
“I would like to extend my gratitude to his Excellency, Lamido of Ngaoundere, for his generous provision of land in the Makor region. Access to an additional 105 hectares surrounding the IRF site provides the Company with assurance to construct and develop the IRF and other critical infrastructure for Minim Martap, reinforcing the Project’s long-term viability.
“The past six months have been transformative for Canyon, with initial infrastructure solutions in place and strong support from strategic partners and government, we have rapidly derisked the Project’s development.
“The support we’ve received from EEA, the Government of Cameroon, and key stakeholders reflects the enormous opportunity that Minim Martap presents to Cameroon and local communities. The broader bauxite market remains in a highly resilient environment, and we look forward to becoming a key supplier of this critical mineral to future offtake partners.”
Click here for the full ASX Release
This article includes content from Canyon Resources Limited, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.
The Conversation (0)
14 October
Spectacular Copper, Silver 81 Germanium Results Continue at Graceland Critical Metals Prospect, Namibia
42.7% copper, 1,353 g/t silver and 201 g/t germanium in Gossan 1 East Channel Sampling
Golden Deeps Ltd (“Golden Deeps” or “the Company”) (ASX: GED) is pleased to announce further, spectacular copper, silver, zinc and germanium channel sampling results and exceptionally high-grade copper-silver channel sampling intersections from the Company's Graceland Prospect' in the... Keep Reading...
08 October
Nine Mile Metals Closes Oversubscribed Non Flow Through Private Placement
NINE MILE METALS LTD (CSE: NINE) (OTCQB: VMSXF) (FSE: KQ9) (the "Company" or "Nine Mile") has closed the oversubscribed non-flow-through private placement financing. The company issued 12,142,174 units at a price of 1.5 cents per unit for proceeds of $182,132. The company's flow-through private... Keep Reading...
07 October
Australia’s Mining and Energy Sector Set to Add 22,000 Jobs by 2030
The Australian Resources and Energy Employer Association (AREEA) has released its 2025 to 2030 Resources and Energy Workforce Forecast, projecting a surge in sector employment as nearly 100 mining and energy developments move ahead.According to the report, 96 projects are “likely to proceed,”... Keep Reading...
17 September
Canada's Place in Global Mining: Why it's a Top Jurisdiction for Investors and Companies
For resource investors, geological potential is only one piece of the puzzle. Whether it’s gold, silver, copper, nickel, uranium or any other commodity, the long-term success of a mining project is heavily dependent on jurisdiction. Mining is a capital-intensive, multi-year undertaking, and an... Keep Reading...
11 September
Australia as a Mining Jurisdiction: Assessing Risk in an Evolving Landscape
Australia has long been recognised as a stable and reliable jurisdiction for mining, a reputation built on its rich history in the sector. However, the industry is now coming to a crossroads. The country's mining sector is facing a shifting regulatory landscape as it contends with trade... Keep Reading...
11 September
LKY Doubles Landholding Abutting MP Materials in Mojave Hub
Locksley Resources (LKY:AU) has announced LKY Doubles Landholding Abutting MP Materials in Mojave HubDownload the PDF here. Keep Reading...
Latest News
Latest Press Releases
Related News
TOP STOCKS
American Battery4.030.24
Aion Therapeutic0.10-0.01
Cybin Corp2.140.00