Money Control Place
  • Politics
  • Business
  • Stocks
  • Investing
  • Politics
  • Business
  • Stocks
  • Investing

Money Control Place

Investing

Approval of Inland Rail Facility by Government of Cameroon

by admin February 4, 2025
February 4, 2025
Approval of Inland Rail Facility by Government of Cameroon

Canyon Resources Limited (ASX: CAY) (‘Canyon’ or the ‘Company’) is pleased to announce that the location of its Inland Rail Facility (‘IRF’) has been approved by the Government of Cameroon. In addition, Canyon’s in- country subsidiary Camalco Cameroon SA (‘Camalco’) has been allocated 105 hectares of land by the Lamido of Ngaoundere to be used for future additions to the IRF and associated infrastructure.

The signing of this land approval marks another major milestone achieved by the Company in the rapid development of the Minim Martap Bauxite Project (‘Minim Martap’ or ‘the Project’).

The approved IRF location is strategically situated near the existing Makor Railway Station, enabling seamless integration with existing local infrastructure and enhancing construction efficiency. The timing of the approval for the IRF location and allocation of additional land, comes shortly after the underwriting agreement with Eagle Eye Asset Holdings Pte Ltd (‘EEA’) to finance the purchase rolling stock for the development of Minim Martap.

The rapid succession of these milestones underscores the strong commitment of Canyon’s major shareholder, EEA, and dedication of relevant authorities in Cameroon, to advance Minim Martap towards production status.

Canyon is focused on progressing key logistical and infrastructure solutions to further de-risk the Project and support the ongoing Definitive Feasibility Study (‘DFS’). Upon completion and at the commencement of production, the IRF will be used as a loading station for wagons of Bauxite ore brought by road from Minim Martap before transport via the main rail line to port, using the Company’s own rolling stock.

Mr Jean Sebastien Boutet, Canyon Chief Executive Officer commented:“The approval for the location of the Inland Rail Facility is a timely achievement for the Company following the recently announced underwriting agreement with EEA to finance the purchase of rolling stock. Key details from these agreements are being factored into the ongoing Definitive Feasibility Study and the increased oversight of logistics provides Canyon stability in progressing our Project.

“I would like to extend my gratitude to his Excellency, Lamido of Ngaoundere, for his generous provision of land in the Makor region. Access to an additional 105 hectares surrounding the IRF site provides the Company with assurance to construct and develop the IRF and other critical infrastructure for Minim Martap, reinforcing the Project’s long-term viability.

“The past six months have been transformative for Canyon, with initial infrastructure solutions in place and strong support from strategic partners and government, we have rapidly derisked the Project’s development.

“The support we’ve received from EEA, the Government of Cameroon, and key stakeholders reflects the enormous opportunity that Minim Martap presents to Cameroon and local communities. 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.”

Click here for the full ASX Release

This post appeared first on investingnews.com

0
FacebookTwitterGoogle +Pinterest
previous post
Rule, Kiyosaki, Spina and Clark Share Mining Stock Picks and Investing Wisdom
next post
Maria Smirnova: Gold, Silver Price Drivers Still in Place, My Focus in 2025

Related Posts

Danielle DiMartino Booth: US Economy at Precipice —...

March 28, 2025

Helium Evolution Confirms Additional Drilling of Up to...

April 3, 2024

Azincourt Energy to Drill Test Clay Alteration at...

January 26, 2024

Top 10 Copper-producing Companies

January 10, 2024

ION Energy Acquires New Canadian Exploration Asset

August 21, 2023

Joe Cavatoni: Gold’s Run Not Over, Eastern Markets...

May 8, 2024

Edison Lithium Expands Portfolio with Acquisition of Additional...

April 16, 2024

10 Largest Producers of Gold by Country (Updated...

February 23, 2024

Basin Prepares for Phase 2 Drilling at Geikie...

December 15, 2023

Appia Signs Definitive Agreement to Acquire up to...

June 12, 2023

    Get free access to all of the retirement secrets and income strategies from our experts! or Join The Exclusive Subscription Today And Get the Premium Articles Acess for Free


    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    Latest

    • Breakouts, Momentum & Moving Averages: 10 Must-See Stock Charts Right Now

    • Week Ahead: NIFTY Stays In A Defined Range; Moving Past This Level Crucial For Resumption Of Upmove

    • Editor’s Picks: Gold Faces Bumpy Week on Trade Tensions, Platinum Stages Breakout

    • Run Your Stock Portfolio Like a Pro Sports Team

    • Leadership Rotation Could Confirm Corrective Phase

    • Breakouts, Momentum & Moving Averages: 10 Must-See Stock Charts Right Now

    Categories

    • Business (1,223)
    • Investing (2,504)
    • Politics (3,699)
    • Stocks (1,616)
    • Uncategorized (20)
    • About us
    • Contact us
    • Privacy Policy
    • Terms & Conditions

    Disclaimer: MoneyControlPlace.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Copyright © 2025 moneycontrolplace.com | All Rights Reserved