Canyon to release bankable feasibility study for Minim Martap bauxite project to improve production by above 20%

Canyon Resources reportedly plans to release the bankable feasibility study for its Minim Martap bauxite project in January 2022, including improving rail production capacity and developing a superior port handling facility.

Fresh modelling from West African rail engineering consultant Vecturis has said rail that traffic capacity of the project is better than previous anticipated, which will allow the production of Minim Martap bauxite to increase by more than 20 per cent from the original target.

Canyon Resources and the Cameroon Ministry of Transport and Camrail have also carried out a review of rail operations methodology that has found out the possibility of increasing tonnage and improving rail efficiencies.

Ongoing negotiations between Canyon and Douala Port Authority (PAD) have also identified additional rail unloading and barge loading solution at the port, which will facilitate operations and accommodate increase in production in the future.

Canyon has also come to key terms for the Minim Martap project’s Mining Convention following four rounds of negotiations with the government. This finalises the formal negotiations for the Mining Convention between Canyon’s wholly owned Cameroon subsidiary Camalco Cameroon and the state, with formal execution anticipated in the first quarter of 2022.

“We are very pleased with the positive outcome of the negotiations and are appreciative of the Ministry of Mines hosting the very productive discussions over the past few weeks,” managing director Phillip Gallagher said.

“It is clear that all sides involved see the short and long term benefits of the Minim Martap Bauxite Project to the State of Cameroon and there is a positive intent to see the project developed.”

He added that the company is now able to enter into binding rail and port agreements as well as advance project financing and strategic partner discussions.