Key Minerals of the African Continent: Cameroon's 2026 Outlook for the Crucial Minim Martap Bauxite Project

¬ Australian Canyon Resources Company plans to export the first batch of bauxite from the Minim Martap project in mid-2026, with mining activities set to begin in February 2026.

¬ The project has a proven and probable reserve of 144 million tons, with an operational life of 20 years, aiming to reach an annual production of 10 million tons by 2032.

¬ Asian capital plays a central role through the controlling shareholder of Canyon Resources, while the Cameroonian government holds a 10% no-cost share in the local subsidiary.

After years of preparation, Canyon Resources plans to export the first batch of bauxite from its Minim Martap project in Cameroon in mid-2026. The Australian mining company confirmed this goal in a latest announcement released on Tuesday, January 27, and stated that mining activities will begin at the site in February 2026.

Canyon Resources has been operating in Cameroon for over ten years and has accelerated its plans in the past two years to become the country's first bauxite producer. The company explained that the acceleration of the plan was due to the mining license obtained in 2024, which covers 144 million tons of proven and probable reserves, with an operational life of 20 years. This license gave Canyon Resources two years to start mine construction and set a five-year deadline to put the deposit into production.

Over the past twelve months, Canyon Resources has signed several financing and logistics agreements to ensure funding for mine construction and establish export routes. Cameroonian financial institutions Afriland Bourse & Investissement and AFG Bank have signed investment and loan agreements with the company, while Camrail, the traditional operator of the Cameroonian railway network, has formally established a logistics partnership with Canyon.

The company is currently upgrading the road for ore transportation, and engineers have finalized the construction plan for the inland railway facilities. This facility will utilize Camrail's railway infrastructure to transport bauxite from the mine to Douala port. Canyon stated that construction of the port storage area will begin in January, and the delivery of trucks and locomotives is expected to be completed in the second quarter of 2026.

After the initial trial operation planned for June 2026, the company plans to fully launch bauxite exports in the fourth quarter of 2026. The initial transportation capacity of the railway system is 1.2 million tons per year, with plans to gradually increase capacity to 10 million tons per year by 2032.

The Shadow of Asia

If the previously established schedule is followed, especially regarding equipment delivery and transportation infrastructure, Cameroon is expected to join the ranks of African bauxite-producing countries this year. Guinea is the leader in this field, being the world's leading bauxite exporter, with exports reaching 182.8 million tons in 2025 according to data from the Guinean Ministry of Mines. Sierra Leone and Ghana are also part of this group. Therefore, African bauxite production, which has mainly focused on West Africa, will now expand to Central Africa.

Except for Sierra Leone, which mainly exports to Europe, most of the output from African bauxite producers is shipped to Asia, particularly China. Therefore, Chinese companies play a direct or indirect role in bauxite mining across Africa, such as the Sino-Malaysian joint venture SMB-Winning operating in Guinea.

In Cameroon, the involvement of Asia in the Minim Martap project is reflected in the shareholder structure of Canyon Resources. The Singapore-based family office Eagle Eye Asset Holdings holds about 56% of the shares, making it the largest shareholder. Indian businessman Gagan Gupta, who is one of the shareholders of Eagle Eye, is also the founder of Arise Group, a group focusing on industrial and logistics infrastructure in Africa.

As for the Cameroonian government, its direct participation is limited to holding a 10% no-cost equity stake in the local subsidiary of Canyon, which is responsible for operating the Minim Martap mine. Other domestic participants have already participated or are seeking to participate in the project, which is expected to change the current mining industry, which accounts for about 1% of Cameroon's GDP. In September 2025, the subsidiary of the Cameroonian bank group Afriland First Bank, Afriland Bourse & Investissement, signed an agreement to invest approximately 70 million Australian dollars (49 million US dollars) to acquire 10.1% of Canyon's shares. According to the Cameroonian Business Report, the Cameroonian National Social Security Fund is also considering participating in the investment.

Sources: ecofinagency

Original: toutiao.com/article/1855582781509636/

Statement: The article represents the views of the author himself.