Name of the Project
Minim Martap bauxite project.

Location
Adamawa region of central Cameroon.

Project Owner/s
ASX-listed exploration and development company Canyon Resources, through its wholly owned local subsidiary Camalco.

Project Description
A definitive feasibility study (DFS) has confirmed the project’s strong economics and has outlined a pathway for the phased development of what is planned to be a major new bauxite producer.

The ore reserve estimate has been increased by one-third, to 144-million tonnes of direct shipping ore-grade ore at 51.2% alumina and 1.7% silica, which will underpin the long-term future of the project. The 20-year plan is underpinned by the project’s proved and probable ore reserves. The project also contains a 1.102-billion-tonne mineral resource grading 45.3% alumina and 2.7% silica, leaving scope for a longer operating life.

Mining operations are proposed to be undertaken at three plateaus – Danielle, Beatrice and Raymonde – using surface miners. The surface miners will be supported by front-end loaders and truck haulage. The mined bauxite will not require further processing and will be exported as direct shipping ore. 

Stage 1 involves the production of 1.2-million wet metric tonnes, with the DFS envisaging staged production of about 2.1-million wet metric tonnes a year in Year 2, 6.5-million tonnes a year in Year 5 and 10-million tonnes a year in Year 7.

Production will be ramped up in line with rail network operator Camrail’s PQ2 rail upgrade initiative, in Cameroon, which will result in existing rail capacity being upgraded. Ore will be hauled from the mine to the inland rail facility at Makor, transported by rail to Douala, stockpiled at the port and transhipped for export.

Potential Job Creation
Not stated.

Net Present Value/Internal Rate of Return
The project has a pretax net present value (NPV), at a 6% discount rate, of $835-million and an internal rate of return (IRR) of 29%. The after-tax NPV is estimated at $521-million and the internal rate of return at 22%, with payback in Year 8.

Capital Expenditure
Total capital expenditure to two-million tonnes a year is estimated at $158-million, to 6.5-million tonnes a year at $345-million and to 10-million tonnes a year at $446-million. The final expansion stage requires an additional $101-million.

Planned Start/End Date
Project construction started in July 2025. Trial mining is scheduled to start in the third quarter of 2026, with the first bauxite shipment scheduled for the fourth quarter of 2026.

Latest Developments
Canyon reported on June 26, 2026, that the project’s locomotives had been delivered to Cameroon. A six- to eight-week commissioning, testing and operator-training programme is planned before initial ore transport between the inland rail facility and the Port of Douala starts in the third quarter.

The first 60 rail wagons have left the factory and are scheduled to arrive in Douala in mid-August 2026, with the remaining 100 wagons expected late in the third quarter. The Stage 1 fleet of seven locomotives and 160 wagons is expected to provide transport capacity of about 35 000 wet metric tonnes a month.

Subject to additional funding of $160-million being finalised, Stage 2 will include rail infrastructure upgrades and a further 15 locomotives and 400 wagons. This is expected to increase rail capacity to about 105 000 wet metric tonnes a month by the third quarter of 2027. Without the additional funding, production will remain at about 35 000 wet metric tonnes a month.

Trial mining is expected to start in the third quarter of 2026, subject to final discussions with local communities, allowing for operating procedures to be optimised and ore stockpiles to be built ahead of exports. The haul road, inland rail facility and port dredging are scheduled for completion late in the third quarter, supporting the first bauxite shipment in the fourth quarter.

Canyon has increased its equity interest in Camrail from 9.1% to 26.9% and has completed a 42.8% strategic investment in Terminal Bois du Port de Douala, strengthening its involvement in the rail and port infrastructure serving the project.

Offtake discussions with potential customers are continuing, with Canyon planning to finalise agreements after initial shipments demonstrate the quality of the ore. 

The feasibility study for a proposed value-adding alumina refinery is scheduled for completion in the third quarter of 2026.

Key Contracts, Suppliers and Consultants
SRK Consulting (Australasia) (study on geology, mineral resource estimation, geotechnical analysis, mining and ore reserve estimation); Bhygraph Engineering Sarl (design of haul road from mine to the IRF); MR Technofin Consultants (IRF design); SYSTRA (rail capacity studies); Grafix Engineering Consultant (port studies: planning and design); Geostratum (hydrogeology study); CM Group (bauxite marketing studies); Golder Associates-Africa, Rainbow Environment Consultant (Cameroon), ESS-Senegal (environment- and social-impact studies, or ESIA – mine); Andal & Synergy Engineering (ESIA updates – IRF and road); Glonar (ESIA update – port); CRRC Ziyang (locomotives); and Texmaco Rail & Engineering (rail wagons); Arise Port and Logistics (port and logistics); Camrail (rail operator); and Terminal Bois du Port de Douala SA (port operator).

Contact Details for Project Information
Canyon Resources, tel +61 8 6385 2263 or email info@canyonresources.com.au.