Perth-based mineral miner Canyon Resources Limited said last week that the Cameroonian government has agreed to enter into negotiations with the firm on a mining agreement for Minim Martap Bauxite Project.
Canyon said that it received written notice that the Ministry of Mines was prepared to begin negotiations, which are expected to begin later this month. The Cameroonian state-owned mining firm SONAMINES will also be involved in the contract talks.
Issues to be ironed out in the course of negotiations include justification and scope of the Minim Martap Bauxite Project, taxes, State participation in the project, social and environmental obligations, conditions of local employment
Canyon’s Managing Director Phillip Gallagher said in a press release that getting the project to the point of negotiations with the Cameroonian government is the product of years of work.
“The commencement and finalisation of negotiations for the Mining Convention is an important pre-construction milestone for the Minim Martap Project. This is the culmination of the last 3 years work since being granted the Project. Over this period of time, the Canyon and Camalco teams have achieved an enormous amount, including identifying a JORC compliant 1 billion tonne reserve and a very high grade 100 million tonne proven reserve, along with the completion of the ESIA and logistical studies.”
“I am very proud of our team and the high quality of work completed on the Minim Martap Project,” he concluded. “Completing a Mining Convention this year would be a great result over what has been a very hard year with global COVID-19 restrictions.”
Negotiators will meet in several locations throughout Cameroon in the coming days, culminating with a site visit early next month.