American Canyon Resources Acquires 9.1% Stake in Cameroon’s Railway Operator

American Canyon Resources, through Camalco Cameroon SA, has agreed to purchase a 9.1% stake in Camrail SA to improve logistics for transporting bauxite from the Minimap deposit. The deal involves acquiring shares from SEBC and Total Energies Marketing Cameroon SA. Canyon Resources, based in Colorado, boasts prominent investors and aims to strengthen transportation efficiency in Cameroon.

American Canyon Resources Limited has announced through its subsidiary, Camalco Cameroon SA, that it has secured an agreement to acquire a 9.1% interest in Camrail SA, the operator of Cameroon’s railway system. This acquisition marks a significant advancement towards establishing an efficient logistics route that aligns with the developmental plans for one of the world’s richest bauxite deposits, known as Minimap, which contains 109 million tons of bauxite ore. The initiative aims to mitigate transportation risks from the mine to the port.

According to the arrangement, Camalco will purchase 3.8% of Camrail shares from Société d’exploitation des Bois du Cameroun (SEBC) for a total of 576 CFA BEAC, equivalent to 1.4 million Australian dollars. Additionally, it will acquire 5.3% of shares from Total Energies Marketing Cameroon SA for 813 CFA BEAC, amounting to 2 million Australian dollars, pending necessary regulatory approvals.

Canyon Resources counts notable investors among its backers, including Paramount BioCapital Asset Management, Hedgehog Capital, Cantara, Heller Capital Partners, Milfam, and Iroquois Capital. This collaboration reinforces Canyon Resources’ strategic interests in the region.

Canyon Resources is based in Golden, Colorado, and operates primarily in the metallurgy and mining sectors. Camrail SA, the railway operator, is a subsidiary of the French investment group Bolloré and has managed the Cameroon National Railway under a 20-year concession since 1999. It is headquartered in Douala, Cameroon, and is focused on both passenger and freight transportation.

In conclusion, American Canyon Resources has made a calculated move by acquiring a 9.1% stake in Camrail SA, intending to enhance its logistical capabilities for the transport of bauxite ore from the Minimap deposit. This strategic investment not only strengthens their operational framework but also signals a broader commitment to resource development in Cameroon. The involvement of reputable investors further underscores the potential significance of this venture.

Original Source: www.akm.ru