• Canyon Resources targets first bauxite exports from Minim Martap by mid-2026, with mining set to start in February 2026.
• The project holds 144 million tonnes of exploitable reserves over 20 years and aims to reach 10 million tonnes per year by 2032.
• Asian capital plays a central role through Canyon’s majority shareholder, while the Cameroonian state holds a 10% free stake in the local subsidiary.

After years of preparation, Canyon Resources aims to export the first tonnes of bauxite from its Cameroonian Minim Martap project by mid-2026. The Australian mining company confirmed this objective in an update published on Tuesday, January 27, and stated that extraction activities should begin at the site in February 2026.

Canyon Resources has operated in Cameroon for more than a decade, and the company has accelerated its plans over the past two years to become the country’s first bauxite producer. The company explained this acceleration by the 2024 mining permit, which covers 144 million tonnes of exploitable reserves over a 20-year period. The permit granted Canyon two years to begin mine construction and set a maximum deadline of five years to bring the deposit into production.

Over the past twelve months, Canyon Resources has therefore signed several financial and logistical agreements to secure funding for mine construction and to establish export routes. Cameroonian financial institutions Afriland Bourse & Investissement and AFG Bank signed investment and loan agreements with the company, while Camrail, the historic operator of Cameroon’s railway network, formalized its logistics partnership with Canyon.

The company is currently upgrading road access for ore evacuation, while engineers have finalized plans for the inland rail facility. This facility will transport bauxite from the mine to the port of Douala using Camrail’s railway infrastructure. Canyon stated that construction of the port storage area should begin in January, while the delivery of wagons and locomotives is expected in the second quarter of 2026.

After an initial trial shipment scheduled by June 2026, the company plans to launch full-scale bauxite exports in the fourth quarter of 2026. The rail system should start with a transport capacity of 1.2 million tonnes per year and should gradually increase capacity to 10 million tonnes per year by 2032.

The Shadow of Asia

Subject to compliance with the previously outlined timetable, particularly regarding equipment delivery and transport infrastructure, Cameroon should join the limited group of African bauxite producers this year. Guinea dominates this group as the world’s leading bauxite exporter, with shipments of 182.8 million tonnes in 2025, according to data from Guinea’s Ministry of Mines. Sierra Leone and Ghana also belong to this group. As a result, African bauxite production, previously concentrated in West Africa, would expand into Central Africa.

With the exception of Sierra Leone, which exports mainly to Europe, African bauxite producers ship most of their output to Asia, particularly to China. Chinese companies therefore play a direct or indirect role in bauxite mining across Africa, as illustrated by SMB-Winning, a Sino-Singaporean consortium operating in Guinea.

In Cameroon, Asian involvement in the Minim Martap project appears at the shareholder level of Canyon Resources. Eagle Eye Asset Holdings, a Singapore-based family office, holds approximately 56% of the company’s shares and ranks as its largest shareholder. Indian businessman Gagan Gupta counts among Eagle Eye’s shareholders and is known as the founder of Arise, a conglomerate specializing in industrial and logistics infrastructure across Africa.

As for the Cameroonian state, its direct involvement remains limited to a 10% free equity stake in Canyon’s local subsidiary, which operates the Minim Martap mine. Other domestic actors are already involved or seek involvement in this project, which could transform a mining sector that currently contributes about 1% of GDP. Afriland Bourse & Investissement, a subsidiary of Cameroonian banking group Afriland First Bank, signed an agreement in September 2025 to invest approximately 70 million Australian dollars ($49 million) to acquire a 10.1% stake in Canyon. According to Business in Cameroun, the National Social Insurance Fund is also considering participation.

This article was initially published in French by Emiliano Tossou

Adapted in English by Ange J.A de BERRY QUENUM