Australian mining firm Canyon Resources Limited has secured government approval for its Inland Rail Facility (IRF), designed to streamline the movement of goods and bauxite ore for the Minim Martap Bauxite Project in Cameroon.
Cameroon has also granted an extra 105 hectares of land to accommodate future expansions of the IRF. Jean Sebastien Boutet, CEO of Canyon Resources, said the approval is a milestone in fast tracking the 6.4 million tons bauxite mine and enables the company to build infrastructure to ensure the mine’s long-term sustainability.
He added: “The broader bauxite market remains in a highly resilient environment and we look forward to becoming a key supplier of this critical mineral to future offtake partners.”
Meanwhile, the company initiated the development of key infrastructure over the past six months and secured funding from Singapore-based Eagle Eye Asset Holdings in exchange for a stake in the bauxite mine. The Australian firm says it is progressing a Definitive Feasibility Study for the mine.
