Canyon pushes Minim Martap into execution phase as first bauxite shipment nears

Canyon Resources Limited ( (AU:CAY) ) just unveiled an update.

Canyon Resources has moved its Minim Martap Bauxite Project in Cameroon into a key execution phase, with a surface miner mobilised and trial mining set to start in the second quarter of 2026. Critical haul road, rail and port infrastructure upgrades are progressing on schedule, underpinning first bauxite production in early Q2 2026 and a maiden shipment now targeted for late Q3 2026, with a ramp-up to full-scale exports in Q4.

The company’s integrated logistics are being strengthened by the shipment of the first seven locomotives to the Port of Douala and continuing development of the Inland Rail Facility, while off-take talks advance on the back of the project’s high-grade ore. Minim Martap remains fully funded to first shipment via an undrawn US$83 million credit facility and A$79 million in cash, and Canyon is also managing a structured leadership transition as it shifts from development to production and advances a refinery feasibility study due in Q3 2026.

The most recent analyst rating on (AU:CAY) stock is a Buy with a A$0.40 price target. To see the full list of analyst forecasts on Canyon Resources Limited stock, see the AU:CAY Stock Forecast page.

More about Canyon Resources Limited

Canyon Resources Limited is an ASX-listed mining company focused on the development of the Minim Martap Bauxite Project in Cameroon. The company is targeting high-grade bauxite production and integrated logistics, with plans to expand into downstream alumina refining to capture more value across the aluminium supply chain.

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Technical Sentiment Signal: Sell

Current Market Cap: A$268.1M

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