Canyon announces $140m funding for Minim Martap project in Cameroon

Australian Bauxite miner Canyon Resources has announced a funding package of A$215m ($140) to expedite the development of its Minim Martap bauxite project in Cameroon. The funding comprises a two-tranche placement to raise A$205m, alongside an options exercise by Canyon’s major shareholder, Eagle Eye Asset Holdings (EEA), to generate up to A$10m. The first tranche will raise A$36m from institutional, sophisticated and professional investors, utilising the company's existing placement capacity. The secon ...