Canyon advances early works on now-permitted Minim Martap bauxite project
ASX-listed bauxite miner Canyon Resources and its subsidiary Camalco have been granted a mining licence for the Minim Martap project in Cameroon.
The 20-year licence is conditional upon the companies starting development work on the project within two years and producing bauxite and alumina within five years.
Canyon says the award of the licence, as well as a mining convention, follows an extensive approval process and is testament to the strong levels of support from the Cameroon authorities for the project.
The mining licence can be reviewed for one or more periods not exceeding ten years each.
The company has a strong pipeline of activities planned for the next 12 months, including the development of infrastructure for port and rail access and a revised bankable feasibility study (BFS).
Canyon is also progressing discussions with various potential offtakers and financiers.
Meanwhile, Canyon continues to progress a drilling programme on the Makan and Ngaoundal prospects within the Minim Martap project, with results expected before the end of the year. The company aims to update the mineral resource estimate of the project and work the results into the revised BFS.
Minim Martap contains more than one-billion tonnes of high-grade bauxite with more exploration upside. The current 20-year mining schedule of the project represents only 10.6% of the current resource.
The company had A$20.3-million of cash on hand at the end of September.
.
Comments
Research Reports
Projects
Latest Multimedia
Latest News
Showroom
In 1958 John Deere Construction made its first introduction to the industry with their model 64 bulldozer.
VISIT SHOWROOM
South African leader in Steel -Racking, -Shelving, and -Mezzanine flooring. Universal has innovated an approach which encompasses conceptualising,...
VISIT SHOWROOM
Press Office
Announcements
What's On
Subscribe to improve your user experience...
Option 1 (equivalent of R125 a month):
Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format
Option 2 (equivalent of R375 a month):
All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors
including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.
Already a subscriber?
Forgotten your password?
Receive weekly copy of Creamer Media's Engineering News & Mining Weekly magazine (print copy for those in South Africa and e-magazine for those outside of South Africa)
➕
Recieve daily email newsletters
➕
Access to full search results
➕
Access archive of magazine back copies
➕
Access to Projects in Progress
➕
Access to ONE Research Report of your choice in PDF format
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation
