Cameroon
A port stake and a rail holding: Camalco builds its Minim-Martap logistics position, investing in 42% of Douala Port Timber Terminal
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...
Canyon Resources’ Cameroon bauxite project hits funding pause as first shipment timeline withdrawn
Canyon Resources’ Minim Martap bauxite project in Cameroon has hit a fresh financing hurdle after AFG Bank Cameroon suspended further drawdowns under the project’s loan facility, prompting the company to withdraw its previously announced first-shipment timeline. The development comes as Canyon also faces funding constraints linked to the takeover bid from A2MP Investments FZCO. Canyon said its Cameroon-based subsidiary, Camalco Cameroon, received formal notice from AFG Bank that further disbursements under the loan facility would be suspended. The lender wants to complete a review of the Minim Martap project development schedule, financial model and other financial inputs, as well as conduct a site visit, before releasing additional funds. The funding pause is significant because the...
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15th International Bauxite, Alumina & Aluminium Conference & Exhibition - IBAAS–VFMSTA 2026
ALUMINIUM Arabia 2026
ICSOBA 2026 - 44th International Conference and Exhibition
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News
Canyon Resources halts trading ahead of Minim Martap funding and schedule update
Canyon Resources has requested a voluntary trading halt in its securities on the Australian Securities Exchange as it prepares an update on the development schedule and funding position of its Minim Martap Bauxite Project in Cameroon. The halt will remain in place until the planned announcement is released or normal trading resumes on August 20, 2026. The move indicates that Canyon expects to disclose information that may be material to investors, particularly regarding the timing of mining and the project’s first bauxite shipment. Investors await schedule clarity The upcoming announcement will be closely watched because Canyon’s project timeline has changed during 2026. In June, the company said mining was scheduled to begin in the third quarter of 2026, while the first bauxite shipment...
A2MP takeover bid casts uncertainty over Canyon Resources' Minim Martap bauxite project
The future of one of Africa's largest undeveloped bauxite deposits has entered a new phase of uncertainty after A2MP Investments launched a takeover bid for Canyon Resources, raising questions over whether the company's flagship Minim Martap project will proceed as originally planned. A2MP, Canyon Resources' majority shareholder with a 55.56 per cent stake, has launched an unsolicited off-market takeover offer of AUD 0.05 (USD 0.035) per share, valuing the Australian mining company at approximately AUD 103 million (USD 72.1 million). The offer represents a 42.5 per cent discount to Canyon's closing share price of AUD 0.087 (USD 0.061) on July 28. While the proposal centres on acquiring the remaining shares in Canyon, it also signals a potential shift in strategy for the Minim Martap...
A2MP takeover bid casts doubt over Cameroon bauxite project's expansion plans
Cameroon's flagship Minim-Martap bauxite project has come under fresh scrutiny after majority shareholder A2MP Investments launched a takeover bid for Canyon Resources, arguing that rising freight costs, lower marketing premiums and higher operating expenses could undermine the project's economics in its current form. A2MP, which already owns 55.56 per cent of Canyon Resources, is seeking full control of the Australian mining company through an unsolicited off-market takeover offer. If successful, the company plans to reassess the scale of the Minim-Martap Bauxite Project, potentially replacing Canyon's original development strategy with a smaller operation integrated into A2MP's broader African aluminium value chain. Higher costs put Minim-Martap economics under scrutiny At the centre of...
Cameroon's billion-tonne bauxite project moves closer to exports as CAMALCO clears key rail hurdle
One of Africa's largest undeveloped bauxite deposits has moved a step closer to global markets, with CAMALCO preparing to launch rail transportation from its flagship Minim Martap project in Cameroon. The milestone removes a critical logistics hurdle ahead of commercial production and positions the country to emerge as a new supplier in the global bauxite trade. The Cameroonian subsidiary of Australia's Canyon Resources has signed a rail operations agreement with Camrail, paving the way for bauxite to be transported from the Minim Martap mine in the Adamawa Region to the Port of Douala through the country's existing railway network. The agreement forms a key part of the project's mine-to-port logistics strategy, enabling future exports of one of the world's largest untapped high-grade...
Canyon Resources receives first locomotives, targets 35kt monthly bauxite transport for Minim Martap project
Canyon Resources has taken delivery of the first locomotives for its Minim Martap bauxite project in Cameroon. The mine is being developed by its subsidiary, Camalco Cameroon, which expects an initial fleet of seven locomotives and 160 wagons to transport 35,000 tonnes of bauxite a month. The company is targeting its first shipment in Q4 2026. The initial rail fleet will comprise seven locomotives and 160 wagons, providing a transport capacity of 35,000 tonnes per month. The first 60 wagons are expected to arrive from China in mid-August, while the remaining 100 wagons are scheduled for delivery later this year. Commenting on the development, Canyon Resources Managing Director Peter Secker said, “We are pleased to be making continual and rapid progress at Minim Martap as we work toward...
Cameroon's Minim Martap bauxite project nears production as Canyon receives new rail fleet
Canyon Resources has taken another step towards commercial production at its Minim Martap bauxite project in Cameroon’s Adamawa region. It has received the new rail fleet to reinforce logistics of bauxite transportation from the mine to the Port of Douala. Canyon confirmed that seven CRRC Ziyang locomotives arrived at the Port of Douala in June and have since been delivered to its Cameroonian subsidiary, Camalco Cameroon. Commissioning, operational testing and driver training are now underway before the first rail movements begin during the third quarter (Q3) of 2026. The first 60 wagons have already departed the manufacturing facility, scheduled to reach Cameroon by mid-August, while another 100 wagons are scheduled for delivery later in Q3. Explore: The most comprehensive and...
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