26 SEPTEMBER 2026AlCircle.com

A port stake and a rail holding: Camalco builds its Minim-Martap logistics position, investing in 42% of Douala Port Timber Terminal

3 min read

Stock image for referential purposes only

The Canyon Resources’ subsidiary has acquired 42.8 per cent of Douala Port Timber Terminal, adding a port interest to its existing railway stake as it develops a planned route for Minim-Martap bauxite.

Camalco Cameroon is extending its position in the logistics network being planned for the Minim-Martap bauxite project, acquiring a 42.8 per cent stake in Douala Port Timber Terminal (TBPD). The investment adds a port-related interest to its existing shareholding in Camrail, the railway operator expected to form part of the project’s transport route.

The acquisition was completed through a capital increase at TBPD, rather than the purchase of shares from existing shareholders. Camalco invested XAF 347.447 million (USD 604,000), subscribing to newly issued shares reserved entirely for the company.

Capital increase dilutes existing shareholders

The transaction increased TBPD’s share capital from XAF 464 million (USD 807,630.51) to XAF 811.447 million (USD 1,412,390.85) through the issuance of 347,447 new shares, each with a nominal value of XAF 1,000 (USD 1.74).

Following the increase, Camalco holds 347,447 shares, representing 42.82 per cent of TBPD. The existing 464,000 shares now account for 57.18 per cent of the company’s capital. Existing shareholders waived their preferential subscription rights, allowing Camalco to subscribe for the new shares.

The terms were set out in a legal notice relating to TBPD’s extraordinary general meeting held on March 31, 2026. The deed was prepared by notary Régine Dooh Collins-Ekollo.

Canyon Resources announced Camalco’s 42.8 per cent stake in May 2026, while its June 30 activity report confirmed that the investment had been completed.

Explore the production, demand and consumption forecasts of bauxite and alumina in our report: "Global Bauxite & Alumina Market Forecast to 2036: Supply–Demand, Trade Flows & Price Outlook"

Port and railway interests form part of planned route

The TBPD investment follows Camalco’s increase in its shareholding in Camrail from 9.1 per cent to 26.9 per cent. The company contributed XAF 9.852 billion (USD 17.15 million) in cash as part of Camrail’s recapitalisation, according to documents reviewed by Business in Cameroon in August 2026.

Both companies are connected to the logistics route being considered for transporting bauxite from Minim-Martap. The Port of Douala is part of the project’s export plans, while rail transport is expected to link the mining area with the port.

TBPD is a timber terminal, and the investment does not by itself confirm that bauxite handling has begun there. Nor do Camalco’s shareholdings establish operational control of either the terminal or railway.

The developments come as the project’s shipment schedule remains uncertain. On August 24, 2026, Canyon withdrew its target for the first shipment after further disbursements under a bank facility granted to Camalco were suspended.

The terminal investment therefore adds another corporate interest to the proposed logistics chain, while the timing and implementation of the bauxite export route remain subject to further developments.