Digital Media

Canyon Resources (ASX:CAY) - Premium Cameroon Bauxite Mine Ships First Ore Mid-2026

Dec 9, 2025

Canyon Resources (ASX:CAY) is advancing rapidly toward mid-2026 production at its Minim Martap bauxite project in Cameroon, executing one of the mining industry's most compressed development timelines. The company has progressed from mining license approval in late 2024 to full development mode, with all major equipment ordered and financing secured. The project's economics are compelling: a pre-tax net present value exceeding $800 million, 29% internal rate of return, and modest capital costs of just $97 million to first production. Operating costs of $35 per ton position Minim Martap competitively in the global market, particularly given the premium-grade ore quality of 51% alumina with less than 2% silica. This quality commands a $10 premium over Guinea's standard pricing, translating to margins of $25-30 per ton at current market prices of approximately $81-82 per ton. CEO Peter Secker emphasized the project's market timing: "Chinese demand for bauxite is strong. Guinea obviously have a few problems with some decisions they've made recently. So everybody is looking for an alternate source of bauxite and Minim Martap coming on stream mid next year. Perfect timing." The development's critical path centers on rail infrastructure. Locomotives ordered from China will arrive in February 2026, with commissioning in March to enable ore hauling by April. The mining contractor, experienced in African bauxite operations, mobilizes in January. Initial production of 2 million tons annually will scale dramatically to 10 million tons by 2031 as World Bank-funded rail upgrades totaling $820 million are completed, potentially generating $200 million in annual free cash flow. Canyon has also raised equity to increase its Camrail stake from 9% to over 30%, seeking operational control over the critical 800-kilometer rail corridor to the Port of Douala. As Cameroon's first major mining project, Minim Martap benefits from strong government support and first-mover advantages in an emerging jurisdiction with significant mineral potential across multiple commodities.

Canyon Resources Races Toward Mid-2026 Production at Cameroon's First Major Bauxite Mine

Dec 9, 2025

Canyon Resources (ASX:CAY) is executing one of the mining industry's most compressed development schedules, advancing from mining license to first production in under 18 months. CEO Peter Secker outlined the company's progress during an interview, emphasising that the Minim Martap bauxite project in Cameroon received its mining license in late 2024, completed its feasibility study mid-2025, and is now in full development mode with first shipment targeted for mid-2026.

Canyon Minim Martap Bauxite Project Launches Commercial Operations

Dec 8, 2025

Understanding Cameroon's Strategic Resource Positioning. Global aluminum supply chains face unprecedented pressure as traditional mining regions encounter resource depletion and rising extraction costs. This environment creates significant opportunities for new entrants with superior ore quality and strategic infrastructure positioning. The Canyon Minim Martap bauxite project exemplifies this dynamic, where first-mover advantages combine with geological excellence to reshape regional commodity flows.

Canyon progressing Cameroon development despite minor delays

Dec 8, 2025

ASX-listed Canyon Resources has highlighted development progress at its Minim Martap bauxite project, in Cameroon.

Investor Conference Call - Download MP3

Sep 30, 2025

Canyon Resources (ASX:CAY) - Fast-Tracking World's Largest High-Grade Bauxite Development

Sep 8, 2025

Canyon Boosts Minim Martap Bauxite Reserves by 33% to 144 Mt in Cameroon

Sep 2, 2025

Canyon Resources plans to ship first bauxite from Minim Martap before June 2026

Sep 1, 2025

Canyon pins numbers on Cameroon bauxite development

Sep 1, 2025

Cameroon’s star is on the rise. These are the minerals fuelling it

Aug 20, 2025

Diggers and Dealers: Tim Hoff looks for more winners with his 2025 Diggers portfolio

Aug 6, 2025

Canyon completes first drawdown from credit facility to progress Cameroon project

Aug 4, 2025

Canyon starts construction of rail facility at Makor, Cameroon

Jul 16, 2025

Canyon continues push towards production following start of two key infrastructure developments

Jul 16, 2025