Cameroon: FCFA 82 billion to launch bauxite mining operations

The Minim Martap mining project has taken a decisive step forward, with AFG Bank Cameroun providing Camalco, a subsidiary of Australian Canyon Resources, with financing of 82 billion FCFA (140 million USD).

The funds will be used to acquire 15 locomotives and 300 railcars, and to develop port infrastructure in Douala, with a view to the first bauxite exports scheduled for 2026. This structuring project, which will require a total investment of USD 5 billion, promises to transform Adamaoua into a mining hub with annual production of 6.4 million tonnes over 20 years.

AFG Bank thus consolidates its position as the country’s leading lender, with outstanding loans reaching 568 billion FCFA. The Ivorian banking group confirms its commitment to major African industrial projects, having already injected 190 billion FCFA into Cameroon’s Three-Year Emergency Plan.

With estimated reserves of 108 million tonnes of high-grade ore (51% alumina), Minim Martap could position Cameroon as one of Africa’s leading bauxite exporters. Negotiations with Camrail for use of the existing rail network, the keystone of this ambitious mining project, have yet to be finalized.

source: EcoMatin