Canyon Resources Limited acquires 9.1% stake in Camrail for A$3.4 million

From GlobeNewswire: 2025-03-06 20:50:00

Canyon Resources Limited announces approval from Camrail Board for share sale agreements with Total Energies Marketing Cameroun SA and SEBC, allowing Camalco Cameroon SA to acquire a 9.1% stake in Camrail for approximately A$3.4 million. The acquisitions aim to enhance Canyon’s logistics solution for the Minim Martap Bauxite Project, which boasts an Ore Reserve of 109Mt at 51.1% Al2O3 and 2.0% SiO2. The company’s CEO, Mr Jean-Sebastien Boutet, views this investment as a significant step towards establishing an optimal logistics plan for the project. The completion of the acquisition is expected by the end of March 2025, subject to internal approval by Total Cameroon’s Apex Committee.



Read more at GlobeNewswire: Canyon to Acquire 9.1% Stake in CAMRAIL S.A