Canyon Resources Ltd

Canyon Resources is focussed on expediting the development of the very high grade Minim-Martap Bauxite project, in central Cameroon through its in-country subsidiary Camalco, with a vision to do so in a pragmatic, staged and sensitive way, recognising the priorities of the local communities and national stakeholders and the sensitivity of the biophysical environment.

Canyon is planning the development of the Project in a multi stage approach beginning with a 2-Stage, 2-Port execution programme with initial very high grade direct shipping ore (DSO) production exported though the port of Douala utilising the existing rail and port infrastructure and Stage-2 unlocking tonnes and reducing costs by utilizing the port of Kribi. Stages 3 and beyond include domestic refining to produce non-metallic and metallic alumina and by-products.

Canyon Resources Ltd is exploring and developing high grade bauxite reserves in Cameroon, a central-west African country between Nigeria and Equatorial Guinea with Yaounde as the capital. The country has enjoyed the development of industry and infrastructure, particularly agriculture, roads, railways and ports and including a hydro-electric powered aluminium smelter at Edea, currently utilising imported alumina. Cameroon is a producer, consumer and exporter of gas, having exported 6,262,113 million BTU by the end of May 2020, and crude oil and has rich deposits of cobalt, iron ore, gold, diamonds and vast high grade bauxite ore reserves. Revenues from the extractive industries accounted for 5.43% of GDP and 33.23% of total exports in 2015. Cameroon has the fundamental infrastructure and mineral deposits to support a significant mining industry and the population is generally highly skilled in the technical vocations commensurate to exploration, construction and mining.