Canyon advances Minim Martap bauxite project, targets first shipment in Q3 2026

Canyon Resources Limited has progressed its Minim Martap Project in Cameroon to the execution level. It has confirmation of surface miner mobilisation, with trial mining on schedule for Q2 2026, and production of bauxite expected to occur in early Q2 2026. The first shipment is targeted for late Q3 2026 with a ramp-up to full export capacity in Q4 2026.

Progress continues with regard to supporting infrastructure projects such as improvements to roadways, rail networks and terminal facilities. The arrival of the first seven locomotives at the Port of Douala is a significant achievement toward enhancing the integrated logistics chain for this project. In addition, construction has resumed on an Inland Rail Facility, which will allow for improved transportation from mine to port.

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Canyon stated that off-take discussions are advancing, driven by strong market interest in Minim Martap’s high-grade bauxite. The project is fully funded through to the first shipment, backed by an undrawn credit facility of USD 83 million and cash reserves of A$79 million (USD 52 million).

As the project transitions from development to production, the company is also undertaking a structured leadership transition. In parallel, Canyon is progressing a refinery feasibility study, expected to be completed in Q3 2026, aimed at expanding into downstream alumina production.

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Canyon Resources, listed on the ASX, continues to position Minim Martap as a long-term asset within the global aluminium value chain. The company currently holds a market capitalisation of A$268.1 million (USD 176 million), with an average trading volume of 894,995 shares.