Letter highlights Canyon’s social licence for Cameroon bauxite play
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Canyon continues to progress its Minim Martap project in Cameroon after receiving letters of support from traditional leaders and elders of the local region.
The governor of the Adamaoua region expressed his satisfaction (and that of local administrative authorities) with the exploration work carried out by the company’s wholly-owned Cameroon subsidiary Camalco SA.
He added that the public consultations for the evaluation of the environmental impacts of this operation that he personally chaired had led him to believe that Camalco has all the material and human skills to carry out the exploration of the project.
The Lamido of Ngaoundere, the paramount traditional and spiritual leader for the region, also expressed his wish for Canyon Resources’ (ASX:CAY) project to start, providing direct employment opportunities for young Cameroonians.
Letters of support have also been received from the Sous-Prefet of Martap and the Chiefs of the villages of Haleo, Makor, Minim and Martap.
“These letters of overwhelming support from our very important local and regional stakeholders and friends are a credit to the Camalco team in Cameroon. We are indeed humbled,” managing director Phillip Gallagher said.
“The people in the Adamaoua Region have high aspirations for the project and the Camalco team and it is very pleasing that we have received these letters of affirmation.
“Our early recognition that community support is essential and the time and effort we have committed to working with the community has provided us with a strong social licence to develop the Minim Martap Bauxite Project.”
He added that the Camalco team’s positive engagement with local communities stood the company in good stead for the future and the imminent grant of the mining licence.
The Minim Martap project in central Cameroon has a resource of 1 billion tonnes grading 45.3% aluminium oxide and 2.7% silica dioxide that includes an ore reserve of 99Mt at 51.6% aluminium oxide and 2.4% silica dioxide.
It is currently envisaged as a two-stage, two-port project with initial production exported through the port of Douala using existing rail and port infrastructure.
Canyon’s pre-feasibility study has outlined the first stage as a 5 million tonne per annum direct shipping ore project with low development capital requirements of just US$120m ($163.35m).
The second stage unlocks more tonnes and reduces costs by utilising the planned rail extension to access the deep-water port of Kribi.
This article was developed in collaboration with Canyon Resources, a Stockhead advertiser at the time of publishing.
This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.