| Work Detail |
Canyon Resources Limited has announced significant progress in the development of its Minim Martap Bauxite Project in Cameroon, securing crucial approvals for its Inland Rail Facility (IRF) and a substantial land allocation for future expansion. These milestones, coupled with recent financing agreements, signal a strong push towards production for the project. The Cameroonian government has officially approved the location of the IRF, a strategically important site near the existing Makor Railway Station. This placement will allow for seamless integration with existing infrastructure, streamlining construction and future operations. The IRF will serve as a critical link in the projects logistics chain, acting as a loading station for bauxite ore transported by road from the Minim Martap mine site. From the IRF, the ore will be loaded onto rail wagons and transported to port using Canyons own rolling stock. In addition to the IRF location approval, Canyons in-country subsidiary, Camalco Cameroon SA, has been granted a 105-hectare land allocation by the Lamido of Ngaoundere. This substantial area surrounds the IRF site and will be used for future expansion of the facility and the development of associated infrastructure. This strategic acquisition provides Canyon with the necessary space for long-term growth and ensures the projects viability for years to come. These achievements follow closely on the heels of a significant underwriting agreement with Eagle Eye Asset Holdings Pte Ltd (EEA) to finance the purchase of rolling stock for the Minim Martap project. The rapid succession of these milestones highlights the strong commitment of Canyons major shareholder, EEA, and the dedication of Cameroonian authorities to fast-tracking the project towards production. Canyon CEO, Jean Sebastien Boutet, expressed his enthusiasm about the recent developments, stating, The approval for the location of the Inland Rail Facility is a timely achievement for the Company following the recently announced underwriting agreement with EEA to finance the purchase of rolling stock. Key details from these agreements are being factored into the ongoing Definitive Feasibility Study and the increased oversight of logistics provides Canyon stability in progressing our Project. Boutet also extended his gratitude to the Lamido of Ngaoundere for the generous land provision, emphasizing its importance for the projects long-term viability. Access to an additional 105 hectares surrounding the IRF site provides the Company with assurance to construct and develop the IRF and other critical infrastructure for Minim Martap, reinforcing the Project’s long-term viability, he commented. |
