Canyon Resources has announced plans to develop the Minim Martap bauxite project into a significant, long-lasting operation, highlighting its economic potential. The project, located in Cameroon, is underpinned by a net present value (NPV) of US$835 million and an internal rate of return (IRR) of 29%. A critical development in this venture is the 33% increase in ore reserves, now estimated at 144 million tonnes of direct shipping ore (DSO), which significantly boosts the projects viability and attractiveness.
The upgraded ore reserves at Minim Martap are expected to enhance the projects output and extend its operational life, positioning it as a key player in the global bauxite supply chain. This development is crucial as the demand for bauxite, a primary raw material for aluminum production, continues to rise worldwide. The increase in DSO grade ore reserves not only reinforces the projects economic feasibility but also strengthens Canyon Resources strategic standing in the mining industry.
Canyon Resources is focused on optimizing the Minim Martap project to ensure it meets international standards and fulfills its potential as a premier bauxite operation. The company remains committed to sustainable mining practices and aims to contribute positively to the local economy and community in Cameroon. The projects progress is expected to draw attention from investors and stakeholders interested in the growing bauxite market.