Arial; mso-fareast-language:en">The Cameroonian bank Afriland First Bank has integrated the capital of Canyon Ressources Limited, an Australian company in charge of the development of Minim Martap bauxite project, via subsidiary Afriland Bourse et Investissement, in Adamaoua, Cameroon. The operation was formalized on September 23.

mso-fareast-language:en">The financial contribution allows Afriland First Bank to contribute to financing of the Mini Martap bauxite project. The mining company announced have raised 70 million Australian dollars or 25.8 billion CFA francs in capital with the Cameroonian banking institution. This transaction allows the banking institution to become a shareholder in Camyon Resources up to 10.1%. This agreement has yet to be validated by BEAC regulatory authorities, COSUMAF and by the Government of Cameroon. The operation is part of the framework for a global financing of 215 million AUD, or nearly 90 billion CFA.

The funds will be deployed according to three priorities. It's about in particular to finance the development of the Minim Martap project in the amount of 206 millions AUD (81.8 billion FCFA), to increase investment in Camrail, Douala—Ngaoundéré railway contractor (46 million AUD, or 18.3 billion FCFA), and to cover general and administrative expenses for 14 millions AUD (5.6 billion FCFA).