Canyon Resources Limited has announced a significant development in its flagship Minim Martap Bauxite Project in Cameroon. The company completed the first drawdown from a US$140 million Credit Facility with AFG Bank Cameroon, securing XAF 15 billion (~US$26 million) to purchase rolling stock and advance infrastructure workstreams. Orders have been placed for locomotives and wagons, with deliveries expected in Q1 2026, aligning with the anticipated first bauxite shipment in the first half of 2026. The project aims to position Canyon as a key supplier of high-quality bauxite ore to the international market, with production set to commence in early 2026. The updated Definitive Feasibility Study is on track for release in August, marking continued progress toward strategic objectives.
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