[Project Financing and Key Contracts Secure 1H 2026 First Bauxite Shipment for Canyon]

Published: Jun 26, 2025 23:47

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Canyon Resources has secured US$140 million in funding from AFG Bank Cameroon and received A$15.8 million from shareholder Eagle Eye, enabling the purchase of long lead items and finalisation of key contracts for its Minim Martap Bauxite Project in Cameroon.
The company has ordered 22 locomotives from CRRC Ziyang, with deliveries expected in Q1 2026. Construction on haul roads and the Inland Rail Facility (IRF) begins July 2025. Mining and haulage contractors will mobilise by late 2025 for Q1 2026 production start. Canyon expects the first bauxite shipment in 1H 2026 and plans to release updated resource estimates by end-July.

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