Canyon subsidiary Camalco Cameroon said that key financial parameters for the project had been set, enabling it to enter binding agreements with financing and offtake partners and logistics providers. Funding for the project will be provided by Canyon and its partner Zhongye Changtian International Engineering Corporation. First production could be as early as the end of 2023 but 2024 seems more likely.In a statement, Canyon said the fact that the existing line runs within 50km of the mine gives the project “a low capex, low opex solution to deliver high grade, low contaminant, seaborne bauxite to market to fuel the large and growing aluminium industry”. There are three main stages in turning bauxite into aluminium: mining, processing the bauxite ore into alumina, and using alumina to produce aluminium.
