Cameroon’s mining sector currently accounts for less than 1% of GDP. However, with over 100 million tonnes of bauxite reserves, the Minim Martap project could transform the sector, creating jobs and boosting government revenues.
Minim Martap is a world-class bauxite project and one of the richest undeveloped direct shipping bauxite deposits in the world […]. I would like to express my gratitude to the Government of Cameroon for its continued support,
said Jean-Sébastien Boutet, the company’s Managing Director, as relayed by Agence Ecofin.Under the terms of the license, Canyon must start construction work within two years and begin bauxite production within five years. According to the feasibility study carried out in June 2022, Minim Martap could produce 6.4 million tonnes of high-quality bauxite annually for at least 20 years.
The authorities expect to create more than 1,000 direct jobs once the mine is operational, in addition to the public revenues generated.According to the feasibility study carried out in June 2022, Minim Martap could produce 6.4 million tonnes of high-quality bauxite annually for at least 20 years.
The authorities expect to create over 1,000 direct jobs once the mine is operational, in addition to the public revenues generated.Under the mining agreement signed in July 2024, the government will receive a mining royalty equivalent to 5% of the commercial value of production, as well as a free 10% stake in the mine.It is also planned that 30% of bauxite production will be processed locally, which should create new jobs and increase financial benefits for the state.
It should be noted that Canyon will make an annual contribution to the Mining Sector Development Fund, as well as to the Mining and Quarry Site Restoration, Rehabilitation and Closure Fund. Over the next 12 months, the Australian company plans to publish an updated feasibility study and revised mineral resource estimate for the project. It is also expected to finalize agreements for access to rail and port infrastructure for the export of future production.
