Executive Interviews

Asian Metal: Welcome to this interview. Could you please briefly introduce your company’s main business?

Peter Secker: Camalco Cameroon S.A. (Camalco) focuses on bauxite project investment in Africa, specifically the Minim Martap bauxite project in Cameroon. We commenced work on this project around ten years ago and are now fully committed to its development, targeting our first shipment of exported bauxite by the end of the second quarter of 2026. This is a significant project in terms of both scale and grade, with resources exceeding 1.1 billion tonnes and a grade of Al?O? 51%min and SiO? 2%min. The project benefits from existing infrastructure, including an established rail line, and is located approximately 800 km from the coast. Minim Martap itself is around 40 km from the rail line. Led by Chief Executive Officer Mr. Peter Secker and Chairman Mr. Mark Hohnen, Canyon has assembled a sector-leading team with more than 200 years of combined experience across global project lifecycles. Given the outstanding characteristics and high-grade nature of Minim Martap bauxite (Al?O? 51%min, SiO? 2%min), Canyon expects to achieve a price premium over standard Guinean bauxite. With growing demand from China, the Middle East, and India, Canyon is well positioned to quickly become a key supplier of high-quality bauxite.

Asian Metal: China’s bauxite imports from Africa have continued to rise over the past three years. What do you see as the main reasons?

Peter Secker: There are several reasons. First, China’s domestic bauxite reserves are declining in both volume and quality, prompting alumina refineries to seek higher-quality imported material. Second, many new alumina refineries in China have been built in coastal areas in recent years, closer to ports handling imported bauxite. As a result, China has increasingly shifted from relying on domestic bauxite to sourcing material from countries such as Australia and Africa.

Asian Metal: What are the main bauxite locations and supply capacity in Cameroon? How are the logistics conditions and costs?

Peter Secker: Now, the main bauxite location is around 800 km north of the coastal city of Douala, with Minim Martap being the first project to move into production. We also have two additional projects, Makan and Ngaoundal, located further south. Total bauxite resources exceed 1.1 billion tonnes. We plan to commence production in 2026 with an initial capacity of 2 million tonnes per year, which could increase to 10 million tonnes by 2031, with a long-term target of more than 15 million tonnes per year. In terms of logistics, there is an existing rail line connecting the region to the coast. The World Bank has committed approximately USD800 million to upgrade this rail line, with construction expected to begin within the next 18 months. This upgrade will enable production to increase from 2 million tonnes to 5–10 million tonnes per year. The total capital investment for the Minim Martap project is approximately USD97 million, covering mining, road, rail, and port logistics. In August 2025, we secured financing of around USD140 million.

Asian Metal: Could you introduce the current mainstream prices for African bauxite? What is your outlook for prices in Q1 2026?

Peter Secker: For Guinean bauxite with Al?O? 45%min and SiO? 3%min, the price for Q4 2025 range from USD70/dmt to USD75/dmt CIF China. For Cameroon’s Minim Martap bauxite, with Al?O? 51%min and SiO? 2%min, we expect to achieve a premium of approximately USD11/dmt. I anticipate that prices for Guinean bauxite will remain broadly flat at USD70–75/dmt over the coming year, followed by annual increases of around 2–3% over the subsequent two years in line with CPI. We expect to continue maintaining our premium by consistently supplying high-grade bauxite.

Asian Metal: What are the main advantages and challenges of bauxite from Cameroon?

Peter Secker: In terms of advantages, first, we produce high-grade bauxite with Al?O? 51%min and SiO? 2%min, compared with Guinean bauxite at Al?O? 45%min and SiO? 3%min, which gives us a ready market. Second, we benefit from an existing rail line and secured financing. Third, the project is well suited to open-pit mining and allows the use of surface miners. As for challenges, this is the first large-scale mining project of its kind in Cameroon. As a result, we need to recruit experienced personnel locally and invest significantly in training, particularly in mining operations and transportation.

Asian Metal: When will you begin exporting bauxite, and what are your target destinations? Will you focus on long-term contracts or spot sales?

Peter Secker: We plan to export our first vessel in June, ahead of the wet season in July and August, with subsequent shipments resuming after August. The first shipment will be approximately 50,000–60,000 tonnes, and Capesize vessels will be introduced after the wet season. This will require the use of barges and floating cranes. Our initial target markets will be the Middle East, China, and India. We intend to focus primarily on long-term offtake partnerships, likely with one or two strategic partners.

Asian Metal: What is your forecast for bauxite supply growth in Cameroon over the next three years?

Peter Secker: At present, we are the only bauxite producer in Cameroon. We forecast production of 1 million tonnes in 2026, followed by 2 million tonnes per year in both 2027 and 2028. Over the next five years, our total bauxite production is expected to reach 10–15 million tonnes.

Asian Metal: Are there any restrictive policies on bauxite mining or exports in Cameroon? What is your long-term strategy?

Peter Secker: The Cameroonian government is very supportive. The main regulatory requirements involve obtaining a mining license and a mining convention. From a long-term perspective, we plan to construct an alumina refinery. The feasibility study is expected to be completed by mid-next year. Given that our bauxite reserves could sustain production for around 100 years, this strategy is well justified. We believe alumina and aluminum demand will continue to grow alongside Africa’s economic development.

Asian Metal: It was a pleasure speaking with you. We wish you every success. By the way, Asian Metal will organize the 16th Aluminum Raw Materials Summit on May 28–29, 2026, in Haikou, China. Global bauxite suppliers and alumina refineries will attend. You are very welcome to join us.

Peter Secker: Thank you. I would be delighted to attend.