Canyon Resources Limited has completed the first drawdown from its US$140 million Credit Facility with AFG Bank Cameroon, securing XAF 15 billion (~US$26 million) to purchase rolling stock and progress infrastructure workstreams at the Minim Martap Bauxite Project in Cameroon. The company is on track to release an updated Definitive Feasibility Study in August and aims to start production at Minim Martap in early 2026 for the first bauxite shipment in 1H 2026. This milestone marks a significant step towards becoming a key supplier of high-quality bauxite ore in the international market.

Read more at GlobeNewswire: Minim Martap Development Update