Canyon Resources Advances Logistics Strategy with Stake in Camrail

Posted On: March 11, 2025
Posted By: Amelia Caldwell
Comments: 0

Canyon Resources’ subsidiary, Camalco Cameroon, is set to acquire a 9.1% stake in Camrail, including a 3.8% stake from SEBC and a 5.3% stake from TotalEnergies for a combined A$3.4 million. This investment aims to optimize logistics for the Minim Martap bauxite mine, with CEO Jean-Sebastien Boutet highlighting the mine’s significant potential.

Camalco Cameroon, a subsidiary of Canyon Resources, has received approval to acquire a 9.1% stake in Camrail, a railway transportation company. This acquisition consists of a 3.8% stake purchased from Société d’Exploitation des Bois du Cameroun (SEBC) last February and a 5.3% stake from TotalEnergies, expected to finalize by the end of March.

The total cash consideration for these equity interests amounts to approximately A$1.4 million for the SEBC stake and A$2 million for the stake from TotalEnergies. Upon complete acquisition, Camalco Cameroon will attain a position on the Camrail board, enhancing its strategic involvement in the railway sector.

Canyon Resources indicated that the investment in Camrail will mitigate risks associated with logistics for the Minim Martap bauxite mine in the Adamawa Region. Jean-Sebastien Boutet, CEO of Canyon Resources, emphasized that Minim Martap is a premier bauxite project, poised to operate as a low-cost producer supplying high-quality material in a tightening market.

The acquisition from TotalEnergies is pending internal approval from Total Cameroon’s apex committee. This crucial step is necessary before the acquisition can be officially completed, solidifying Camalco Cameroon’s position in the railway transportation arena.

In conclusion, Camalco Cameroon’s acquisition of a 9.1% stake in Camrail marks a strategic move for Canyon Resources in enhancing its logistical support for the Minim Martap bauxite mine. This investment not only decreases operational risks but also positions the company favorably within the rail transport sector. The ongoing acquisition signifies Canyon’s commitment to fostering growth in a competitive market.

Original Source: energycapitalpower.com

Amelia Caldwell

Amelia Caldwell is a seasoned journalist with over a decade of experience reporting on social justice issues and investigative news. An award-winning writer, she began her career at a small local newspaper before moving on to work for several major news outlets. Amelia has a knack for uncovering hidden truths and telling compelling stories that challenge the status quo. Her passion for human rights activism informs her work, making her a respected voice in the field.