Canyon Resources (ASX:CAY) advanced its Minim Martap bauxite project in Cameroon towards production, evaluating the implementation of a two-stage development strategy to enable a first bauxite shipment in 2026, according to a Wednesday Australian bourse filing.
It is working with leading mining equipment vendors to define procurement schedules and delivery timelines and is also in talks with potential off-take partners.
The firm's definitive feasibility study remains on schedule for completion in the third quarter.
It is also progressing talks with select debt providers to secure an optimal funding structure to develop the project.
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