Canyon Resources Limited has provided a development update on its Minim Martap Bauxite Project in Cameroon, confirming that key milestones across mining, logistics, infrastructure, staffing and financing remain on track. Mining is scheduled to commence in February 2026 following the arrival of the surface miner, with delivery of locomotives and wagons expected in Q1 2026 and commissioning in early Q2 2026. Ore haulage from the Inland Rail Facility to the Port of Douala is planned for Q2 2026, supporting a targeted first bauxite shipment in late June 2026.
Road upgrade works are progressing towards completion by the end of Q1 2026. Final tenders for dredging at the Port du Bois berth and all transhipping tenders have been received, with contract awards expected in Q1 2026. Senior operational appointments, including a Mine Director and Port Manager, have been finalised, with both due to be in country during January 2026.
The alumina refinery Feasibility Study is 45 percent complete and targeted for completion in Q3 2026. Discussions to increase Canyon’s ownership in Camrail from approximately 9 percent to around 35 percent are well advanced and expected to conclude in Q1 2026. On the financing side, shareholder approval has already been obtained for part of Tranche 2 of the equity raise with Afriland, while approval for the remaining placement to Eagle Eye Asset Holdings is scheduled to be sought at a General Meeting in early March 2026. The company states it is fully funded through Stage 1 production and remains on track toward first production.
