A major bauxite project in Cameroon’s Adamaoua region has been indefinitely delayed due to a financial dispute and a hostile takeover attempt. Canyon Resources, the project developer, has postponed its planned late 2026 production start after AFG Bank froze a crucial $140 million credit line. Simultaneously, A2MP Investments, already a majority shareholder, launched a low-ball takeover bid of $0.05 AUD per share. Despite the mine being ready for production – with infrastructure completed and 60 wagons en route – the financial obstacles threaten the project's future. The project was intended to help Cameroon offset declining oil revenues. Canyon Resources’ CEO will depart at the end of August, indicating significant governance issues. The outcome hinges on the takeover bid, which closes on September 21, 2026.