Canyon Resources Limited has announced progress on its Minim Martap Bauxite Project in Cameroon, with project construction having commenced in July 2025. The company aims for the first shipment in the first half of 2026, supported by a recently secured funding package comprising US$140 million in debt from AFG Bank Cameroon and A$25.4 million in equity from Eagle Eye Asset Holdings. The project boasts a world-class bauxite resource with a high-grade 51% Al2O3 Ore Reserve, offering significant economic potential. Key infrastructure developments include the Inland Rail Facility for ore transfer and road upgrades. The project has a net present value of US$835 million and an internal rate of return of 29%. Further work is anticipated to finalize project contracts and potentially conduct additional testwork on the ore's properties.