Canyon Resources — Strategic investment in Camrail

Canyon Resources has announced that Camalco, its wholly owned in-country subsidiary, has entered into two agreements to acquire a 9.1% combined interest in Camrail, Cameroon’s rail operator. The transaction was approved by Camrail’s board and will see the company paying A$3.4m in cash for the stake. Canyon will nominate one director to Camrail’s board. This is a strategic investment that will allow the company to exercise more control over the rail infrastructure upgrade in Cameroon required to bring the Minim Martap bauxite project into production, therefore further de-risking the project.