Minim-Martap bauxite: India’s A2MP held to its assurances to AFG Bank after takeover bid fails

On November 6, 2026, Australia’s Takeovers Panel ordered A2MP Investments FZCO, majority shareholder of Canyon Resources, to correct information given to shareholders about its financing intentions. The required corrections concern, among other things, commitments presented to AFG Bank Cameroon for the Minim-Martap bauxite project, which Canyon is developing through its subsidiary Camalco, as well as financial estimates and the use of confidential Canyon data. The Panel had identified shortcomings on October 28 while A2MP was seeking to acquire the Canyon shares it did not already own. The orders do not require immediate mine financing or the release of the bank loan.