Canyon subsidiary signs mining convention for Cameroon bauxite project
ASX-listed Canyon Resources’ Camalco Cameroun subsidiary has entered into a mining convention, which details the agreement by which it can mine the Minim-Martap bauxite project, in Cameroon, and export the recovered bauxite and alumina.
The signing of a mining convention is a requirement ahead of the granting of a mining permit.
The mining convention was formally executed during a signing ceremony attended by Camalco CEO Rana Pratap Singh and Cameroon’s interim Minister of Mines Fuh Calistus Gentry.
The signing of the mining convention marks the culmination of an extensive approval process, allowing Camalco to proceed with further development plans for Minim-Martap as outlined in the project’s bankable feasibility study.
“This milestone is a testament to the strong partnership and collaboration between Canyon and the government of Cameroon,” it says.
The signing of the mining convention will also provide Camalco with additional certainty to progress critical workstreams in relation to rail and port access, which are essential to the development of the project.
“There remains a lot of work to be done to progress the project from here, including sourcing funding for development and concluding outstanding issues in relation to port and rail access,” says Canyon CEO Jean-Sebastien Boutet.
“I would like to thank the government of Cameroon for its ongoing support of Minim-Martap and we look forward to working closely with them and our partners as we progress Minim-Martap towards production and unlock the significant value on behalf of both Canyon shareholders and the people of Cameroon,” he adds.
Camalco has in recent months worked on developing local site infrastructure and laying foundational groundwork in preparation for the signing of the mining convention.
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