Canyon Resources updates Minim Martap Project progress in Cameroon, focusing on accelerating production.

From GlobeNewswire: 2025-02-26 19:51:00

Canyon Resources Limited provided an update on the Minim Martap Bauxite Project in Cameroon, with an Ore Reserve of 109Mt at 51.1% Al2O3 and a JORC Mineral Resource Estimate of 1,027Mt at 45.3% Al2O3. The Definitive Feasibility Study is on track for completion in Q3 2025 to confirm the project’s viability and secure funding.

Canyon is considering a two-stage development strategy to accelerate production for a first bauxite shipment in 2026. Discussions with debt providers are progressing positively, and consultants are refining the rail infrastructure for logistical efficiency. The Company is also working on equipment procurement schedules to meet production targets.

Negotiations with potential offtake partners are going well, reflecting market interest in Minim Martap’s high-quality bauxite. Bauxite market fundamentals have strengthened, with prices increasing. Canyon is focused on building its project and management team to become a near-term bauxite producer, aiming for sustainable, long-term value creation.

Canyon’s CEO, Mr. Jean-Sebastien Boutet, expressed confidence in the project’s progress towards production, highlighting the potential of a two-staged development strategy for fast-tracked production. The company is committed to delivering value for shareholders and stakeholders through sustainable operations. Updates on key milestones will be provided as the project advances.



Read more at GlobeNewswire: Minim Martap Project Update