Canyon Resources has acquired a 9.1% stake in Camrail for A$3.4 million, allowing it to enhance its control over logistics in Cameroon’s mining sector. This strategic investment aims to support its bauxite operations and future growth prospects.

Canyon Resources has made a strategic move by acquiring a 9.1% stake in Camrail, Cameroon’s state-controlled rail provider. This investment amounts to A$3.4 million and allows Canyon to gain a 3.8% interest. This decision positions the company to have more control over logistics crucial for their bauxite operations, thereby influencing future growth opportunities in the mining sector.

Canyon Resources has proactively secured a 9.1% stake in Camrail, which is vital for enhancing its logistical capabilities for bauxite extraction. This move reflects Canyon’s commitment to shaping its operational landscape in Cameroon and suggests a significant step towards future growth and efficiency within the industry.

Original Source: www.mining-journal.com