Canyon Resources Limited has acquired a 9.1% stake in Camrail SA, enhancing logistics for bauxite transportation in Cameroon. The deal includes purchasing shares from SEBC and Total Energies, reflecting a strategic move towards optimal logistics and reduced transportation risks.
Canyon Resources Limited, an American mining company, has successfully negotiated the acquisition of a 9.1% stake in Camrail SA, which operates the railway network in Cameroon. This strategic move is executed through its subsidiary, Camalco Cameroon SA, as detailed in a recent press release from the company.
The acquisition is part of an initiative to enhance logistics efficiencies for transporting resources from one of the richest bauxite deposits at Minimap, which holds approximately 109 million tons of bauxite ore. This investment aims to mitigate transportation risks from the mine to the port.
The agreement specifies that Camalco will obtain 3.8% of Camrail shares from the Sociétéd’exploitation des Bois du Cameroun (SEBC) for 576 CFA BEAC, which translates to approximately 1.4 million Australian dollars. Furthermore, 5.3% of shares will be purchased from Total Energies Marketing Cameroon SA for 813 CFA BEAC, equating to around 2 million Australian dollars, pending regulatory approval.
Canyon Resources boasts a diverse array of investors, which includes names such as Paramount BioCapital Asset Management, Hedgehog Capital, Cantara, Heller Capital Partners, Milfam, and Iroquois Capital.
Canyon Resources, headquartered in Golden, Colorado, is involved in metallurgical and mining operations. Camrail SA has been operating under a 20-year concession since 1999, which allows it to conduct passenger and freight transport throughout Cameroon. The company is a subsidiary of the Bolloré Group, a notable French investment group, while operations are managed by Comazar, another of Bolloré’s subsidiaries. The company is based in Douala, Cameroon.
In summary, Canyon Resources Limited has acquired a 9.1% stake in Camrail SA to enhance logistic efficiencies related to bauxite transportation in Cameroon. The deal involves the purchase of shares from SEBC and Total Energies, reflecting a strategic investment to support the development of the Minimap bauxite deposit. This acquisition underscores Canyon Resources’ commitment to improving its logistical framework while continuing to broaden its investor base.
Original Source: www.akm.ru
