Canyon Resources Limited continues to accelerate rail-linked infrastructure development at its world-class Minim Martap Bauxite Project in Cameroon. As outlined in its March 2025 quarterly report, the company made several strategic moves to secure transport capacity and align logistics ahead of its first bauxite shipment, targeted for 2026.
Key rail developments include:
- USD $124 Million Underwritten Rolling Stock Loan: Canyon signed a loan agreement with Eagle Eye Asset Holdings to finance the acquisition of 22 locomotives and 550 wagons. This includes a five-year service and warranty agreement—essential to the project's long-term logistics reliability.
- Government Approval for Inland Rail Facility (IRF): The Cameroonian government approved the site for Canyon’s Inland Rail Facility, located near the Makor Station. The IRF will serve as the loading point for bauxite transported from Minim Martap to port via rail using Canyon’s rolling stock. Additionally, 105 hectares were allocated by the Lamido of Ngaoundere for future expansion.
- Strategic 9.1% Stake in CAMRAIL S.A.: Through its local subsidiary Camalco, Canyon acquired a minority stake in Cameroon’s national rail operator, CAMRAIL. This provides Canyon with direct access to rail governance and ensures its position on the CAMRAIL board—further securing its mine-to-port strategy.
- Port and Rail Access Agreement Imminent: Finalisation of the Port and Rail Access Agreement is expected in Q2 2025, in tandem with the Definitive Feasibility Study and updated JORC Mineral Resource Estimate.
These strategic milestones reinforce Canyon’s commitment to a vertically integrated supply chain for bauxite exports from Cameroon, supporting both national infrastructure development and regional trade.
Download the full March 2025 Quarterly Report from Canyon Resources here:
