Cameroonian bauxite: Canyon is looking for $80 million and in talks with Camrail (Bolloré)
The Australian junior oil and gas company wants to move forward with its Minim-Martap site, one of the largest bauxite deposits in the world, and plans to start the $80 million funding round before 2021.
19/02/2020 at 14h30, by Africa Business+
“We’re starting the feasibility studies and hope to launch the financing phase before the end of the year,” explains Phillip Gallagher, Managing Director and founder of Canyon Resources, joined in Perth by Jeune Afrique Business+. Meanwhile, his project manager, James Durrant, conducted back-to-back meetings with teams at the site to speed things up at the Minim-Martap mine in northern Cameroon. The programme includes meetings with teams from Comalco, Canyon’s local subsidiary, and with Bolloré’s technical teams to discuss the use and extension of the country’s only railway line operated by Camrail, the French group’s division in charge of transporting the site’s future production.