(Business in Cameroon) - Australian mining company Canyon Resources announced March 12 on proactiveinvestors.com it achieved first exploration results of the Minim-Martap bauxite project, Adamaoua region.
The company revealed it “has identified a very high-grade bauxite resource of almost 251 million tons within the existing 550-million-ton resource at the world-class Minim Martap project in Cameroon. A detailed review of exploration by SRK Consulting confirms that more than half of the area drilled for the bulk resource grades more than 50% aluminum oxide (Al2O3) with very low contaminants.”
As a reminder, the Cameroonian government granted permits for the Minim-Martap and Ngaoundal bauxite projects to Camalco, the local branch of Canyon Resources, thereby withdrawing these licenses from Cameroon Alumina (CAL). Indeed, the latter, the result of a joint venture between US Hydromine, the Emirate Dubal Alumina and the Indian Hindalc, failed to fulfil a mining agreement with the Cameroonian government after several years of negotiations.
On 17 September 2018, in the locality of Minim-Martap, the local subsidiary of Canyon Resources launched the “last phase of research,” before the development of the Minim-Martap and Ngaoundal bauxite deposits, in the presence of the former Cameroonian Minister of Mines.
By taking over the permits on the Ngaoundal and Minim-Martap bauxite deposits, after a little over 2 years of negotiations with the Cameroonian authorities, Canyon Resources has officially committed to mobilize more than XAF6 billion to meet specifications that extend over a non-renewable 3-year period.
According to experts, the potential of the Minim-Martap and Ngaoundal deposits (550 million tons), added to the 50 million tons of the Fongo Tongo deposit in the western region, makes Cameroon the 2nd largest bauxite deposit in Africa, after Guinea-Conakry.
Brice R. Mbodiam