CAY updates development timelines for 1Bn tonne bauxite project
Our Investment Canyon Resources (ASX: CAY) just put out a project update for its giant bauxite project in Cameroon.
CAY’s project has a resource of 1.102BN tonnes of Bauxite.
It's one of the biggest undeveloped bauxite projects in the world and CAY expects to be mining on the project THIS quarter.
Late this afternoon, CAY put out an update on the development timelines for the project, here were some of our key takeaways:
- CAY confirmed that the surface miner commissioning is scheduled for this month, so CAY is on track to start mining operations very soon.
- CAY did announce minor delays in the shipment of the company’s locomotive fleet. CAY now expects to have two locomotives shipped for delivery in late Q2, 2026, with the balance of the remaining locomotives to follow in Q3, 2026.
- The haul road upgrade from the mine site to CAY’s rail facility is now expected in Q2.
- CAY expects to close the additional investment into Cameroon’s national rail company (going from 9.1% to approximately 35%) THIS quarter.
- Dredging works at the Port Of Douala is expected to start THIS quarter.
Here are some progress pictures from today’s announcement of the work happening at the inland rail facility:
(source)
CAY was initially targeting first bauxite shipments in Q2-2026, after today’s update that timeline has slipped slightly out to Q3-2026.
Full-scale bauxite shipments are scheduled to commence in Q4, 2026.
CAY also has a feasibility study incoming for a value-add alumina refinery in country.
CAY confirmed that the study is expected in Q3-2026.
What’s next for CAY?
The key catalysts we will be looking out for over the coming months are:
- An offtake deal that locks in a sale price for CAY’s product (keeping in mind that CAY’s bauxite is a premium product and could fetch US$11 higher than market bauxite prices)
- Mining fleet mobilising to site (now expected in February) - Today - surface miner commissioning expected this Month.
- Locomotives arriving in country (now expected to be shipped to site from late Q2 and into Q3)
- Road/rail infrastructure completion (expected to be ready Q2).
We want to see CAY execute its development plan as they have outlined below, noting that today’s update has some of these timelines sliding relating to train commissioning and first shipment:
(source)
