Canyon Resources advances its Minim Martap Bauxite Project with mining set to start in February 2026 and first shipments targeted for late June, underpinned by key operational milestones and strategic partnerships.
- Surface miner arrived in Cameroon; mining to commence February 2026
- Locomotives and wagons delivery scheduled for Q1 2026
- First bauxite shipment targeted for late June 2026
- Ongoing discussions to increase Camrail ownership from 9% to ~35%
- Feasibility study for alumina refinery 45% complete
Mining Operations Set to Begin
Canyon Resources Limited has confirmed that its surface miner has arrived in Cameroon, marking a significant milestone for the Minim Martap Bauxite Project. Mining operations are scheduled to commence in February 2026, positioning the company on track to meet its production targets. This arrival follows extensive infrastructure upgrades, including haul road development and port access improvements, which remain on schedule for completion by the end of the first quarter.
Logistics and Shipment Timeline
Critical to the project’s success is the delivery of locomotives and wagons, expected in the first quarter of 2026, with commissioning planned for early in the second quarter. Ore haulage from the Inland Rail Facility to the Port of Douala is slated for Q2, supporting the company’s goal of shipping its first bauxite cargo by late June 2026. Concurrently, dredging contracts for port access and transhipping tenders are progressing, ensuring the logistics chain is robust and ready for operations.
Strategic Partnerships and Ownership Stakes
Canyon is actively negotiating to increase its stake in Camrail from 9.1% to approximately 35%, a move expected to conclude in the first quarter of 2026. This increased ownership would enhance Canyon’s influence over critical rail infrastructure upgrades, further de-risking the mine-to-port logistics pathway. Such strategic positioning is vital for maintaining operational control and cost efficiencies in transporting bauxite to export markets.
Advancing Downstream Value-Add Strategy
Beyond mining and logistics, Canyon is progressing a feasibility study for an alumina refinery, currently 45% complete. This study aims to leverage the project’s high-grade, low-silica bauxite and Cameroon’s cost advantages to establish a value-adding downstream operation. Completion is targeted for the third quarter of 2026, signalling Canyon’s ambition to integrate further into the global aluminium value chain.
Leadership and Funding Milestones
Operational readiness has been bolstered by the appointment of a Mine Director and Port Manager, both bringing extensive experience in African and Asian mining and port operations. These appointments are timely as the company transitions from development to production. On the funding front, Canyon has secured shareholder approval for a significant equity raise with Afriland Bourse & Investissement and is preparing for a General Meeting to approve a further A$100 million placement to Eagle Eye Asset Holdings. Regulatory approvals are progressing, underpinning the company’s fully funded status through Stage 1 production.
Bottom Line?
With key milestones falling into place, Canyon Resources is poised to transform its Minim Martap project from development to production, but upcoming shareholder approvals and regulatory clearances remain critical.
Questions in the middle?
- Will the increased Camrail stake translate into smoother logistics and cost savings?
- How will the alumina refinery feasibility study impact Canyon’s long-term growth strategy?
- What risks remain around regulatory approvals and funding completions ahead of production?