The US$96 million investment will be used to finance the first phase of the project's operation, with an initial production soperation, with aninitial production target of 1.2million tonnes peryear from 2026.This fun dingisse cured througha US 140 million facility obtained from AFG Bank Cameroon, as well as equity capital from a fund-raising of AUD 25.4 million. The goal is to progressively increase production to reach 10 million tonnes of bauxite by 2032, which would make Cameroon a major player in the global market.

Several key factors convinced Canyon Resources to commit to this project. Firstly, the quality of the deposit, which has an alumina content of 51%, positions it among the best-performing globally. Secondly, the company benefits from the support of the Cameroonian government, formalized by a mining agreement signed in July 2024. Lastly, the transport infrastructure, which once represented a major challenge, is now an asset. The company has invested in the rail operator Camrail and is benefiting from World Bank funding for the modernization of the railway, a fundamental investment for transporting the bauxite to the port of Douala.

This investment is excellent news for the Cameroonian economy, as the project, which has an estimated lifespan of 20 years, is expected to generate new public revenues from its launch. Under the mining agreement, Cameroon will receive a free 10% stake in the project, as well as a 5% mining royalty on the revenue. In addition to creating jobs and generating revenue for the state, this key mining project positions Cameroon as an important player in the global economy, which is fundamental for the diversification of its income sources and the strengthening of its position on the international stage.

CK