Canyon Resources has acquired a 9.1% stake in Camrail for A$3.4 million, enhancing its logistics in Cameroon’s bauxite mining sector. This strategic investment marks a pivotal step in Canyon’s operational planning.

Canyon Resources has actively positioned itself within the mining sector by acquiring a 9.1% stake in Camrail, the state-controlled rail operator in Cameroon. This investment, worth A$3.4 million, grants Canyon a 3.8% interest in the company’s operations, signaling a strategic move to enhance their operational capacity and logistics. This development emphasizes Canyon’s commitment to its future in the bauxite mining industry.

Canyon Resources’ acquisition of a substantial stake in Camrail illustrates its strategic focus on securing critical infrastructure necessary for its bauxite operations. This investment is expected to bolster the company’s logistics and operational capabilities in the region, thereby ensuring stronger positioning in the mining sector.

Original Source: www.mining-journal.com