The Great Assets
  • Business
  • World News
  • Politics
  • Investing
  • Business
  • World News
  • Politics
  • Investing

The Great Assets

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

previous post
What is De-Dollarization and is it Good or Bad?
next post
International Investing: How to Diversify with a Global Portfolio

Related Posts

Top 10 Aluminum-producing Countries

February 19, 2025

Stunalara Acceptances Reach 73.5%

March 20, 2025

Rare Earths Stocks: 9 Biggest Companies

February 7, 2025

Electra Secures Federal Support for North America’s Only...

March 26, 2025

Empire Metals: Advancing a Game-changing, Globally Significant Titanium...

May 1, 2025

CONNEQT Launches Apple Health Integration on iPhone

April 1, 2025

Results of General Meeting, Admission of Retail Offer...

March 25, 2025

AMENDED FROM SOURCE – Blue Sky Uranium Increases...

April 17, 2025

Source Rock Royalties Confirms Monthly Dividend Record Date...

February 8, 2025

Brunswick Exploration Announces 2025 Exploration Plans for Greenland...

February 24, 2025

    Join our mailing list to get access to special deals, promotions, and insider information. Your exclusive benefits await! Enjoy personalized recommendations, first dibs on sales, and members-only content that makes you feel like a true VIP. Sign up now and start saving!


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

    Editors’ Picks

    • 1

      Top 11 Countries by Rare Earth Metal Production

      February 27, 2025
    • 2

      Capital One outage drags into Friday afternoon, leaving some customers without deposit access

      January 23, 2025
    • 3

      Altech Batteries LtdCERENERGY Accredited Highest Possible Green Rating

      January 24, 2025
    • 4

      Bank of America CEO says financial industry will jump into crypto payments if regulators allow it

      January 23, 2025
    • 5

      Altech – CERENERGY Accredited Highest Possible Green Rating

      January 24, 2025
    • 6

      Netflix shares soar as company reports surging revenue, tops 300 million subscribers

      January 23, 2025
    • 7

      Strategic Alliance with Macmahon to Accelerate Redevelopment of Nifty

      January 23, 2025
    • About us
    • Contacts
    • Privacy Policy
    • Terms and Conditions
    • Email Whitelisting

    Disclaimer: thegreatassets.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 thegreatassets.com | All Rights Reserved