viewCanyon Resources Ltd

Canyon Resources signs MOU with Port of Doula for Minim Martap Bauxite Project logistics

The company is planning to develop the project in a two-stage port execution program with initial production exported though the port of Douala utilising existing rail and port infrastructure.

Canyon Resources Ltd - Canyon Resources signs MOU with the Port of Doula for the development of the port at the Minim Martap Bauxite Project
The MOU is an important milestone for Canyon in the commercialisation of the project

Canyon Resources Ltd (ASX:CAY) has signed a memorandum of understanding (MoU) with the Port Authority of Douala (PAD) for development of port and transhipment infrastructure for the Minim Martap Bauxite Project in Cameroon, Central Africa.

The company has been in discussions with the PAD during the process of completing the pre-feasibility study (PFS) and has established a positive working relationship with PAD's executive team.

Execution of the MoU formalises many of the discussions and meetings and creates a pathway for the finalisation of the operating and logistics solutions and timely completion of access and operating agreements between Canyon and the PAD.

“Positive step forward”

Canyon's director of projects James Durrant said: “This is a positive step forward in the development of the final logistics solution for Stage 1 of the Minim Martap Project.

“The agreement to cooperate under a tactical framework with the PAD as outlined in the MoU provides the framework to complete the port section of the Minim Martap Project and dovetails with the feasibility study currently underway.”

The objective of the MoU is to establish an agreed framework by which the PAD and Canyon will cooperate effectively to ensure the success of the Minim Martap Bauxite Project in a mutually beneficial partnership.

Both parties have agreed in the MoU to cooperate regarding the port logistic considerations of the feasibility studies of the Minim Martap project, and to develop efficient technical and commercial solutions for the use of port facilities at the Port of Douala.

The cooperation framework aims to help both parties effectively fulfil their responsibilities for the development of the project, including through structured information sharing and collaborative milestones.

Quick facts: Canyon Resources Ltd

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