Canyon Resources Ltd. acquires 9.1% stake in CAMRAIL S.A, securing board seat

From GlobeNewswire: 2025-03-18 23:55:02

Canyon Resources Limited announces its subsidiary, Camalco Cameroon SA, has acquired a 5.3% equity interest in CAMRAIL SA from Total Energies Marketing Cameroun SA. This follows a previous acquisition of a 3.8% interest from SEBC. The total consideration for both acquisitions was XAF 1,388,550,000. These transactions secure Camalco a seat on the Camrail Board and support Canyon’s Minim Martap Bauxite Project. With an Ore Reserve of 109Mt at 51.1% Al2O3 and 2.0% SiO2, the project is set to become a low-cost bauxite supplier. Completion of a Definitive Feasibility Study is expected in Q3 2025.



Read more at GlobeNewswire: Acquisition Complete for 9.1% Stake in CAMRAIL S.A