Australian mining company Canyon Resources has committed $96 million to begin production at the Minim Martap bauxite project in Cameroon, with operations scheduled to start in January 2026. This development will mark the country’s entry into bauxite mining.
According to the company’s definitive feasibility study (DFS) published on September 1, the project will initially produce 1.2 million tons of bauxite annually and gradually expand output to reach 10 million tons a year by 2032.
The financing package includes a $140 million credit facility secured from AFG Bank Cameroon, alongside equity of about $16.5 million raised with support from Eagle Eye Asset Holdings (EEA), Canyon’s majority shareholder. Overall, the project will require an estimated $446 million in investments over its lifetime.
Under the mining agreement signed in 2024, the Cameroonian government will hold a 10% free stake in the project and collect a 5% royalty on revenues.
Canyon has already drawn down the first tranche of funding, around $26 million, to finance infrastructure such as rolling stock. Delivery of locomotives and wagons is expected in early 2026, ensuring ore transport via Cameroon’s railway system to the port of Douala for export.
The Minim Martap project is seen as a strategic milestone for Cameroon, positioning the country as a new player in the global bauxite market.
