Angola noted on globe
Adobe Stock
The Market Online - At The Bell

Join our daily newsletter At The Bell to receive exclusive market insights

Minbos Resources (ASX:MNB) has announced its execution of a deal with Angola’s wealth fund for US$10M to advance its phosphate project.

The Cabinda Phosphate Project (CPP) is located only 16km away from a seaport in a country the company describes on its website as “hungry for fertilizer.”

An already-completed Definitive Feasibility Study (DFS) clocked the project with a 39% IRR; US$203M overall value and low CapEx requirements.

Under its new deal with the Angolan fund – called Fundo Soberano de Angola (FSA) – first phase construction will commence at CPP following first tranche payments from FSA.

Those phase one works include earthworks, access road creation, drainage and the installation of concrete foundations. Fertilizer produced further down the line is to be provided to local farmers “along the Lobito Corridor.”

Other funding talks are still ongoing with “IDC and with Banco BAI, supported by the Angolan Credit Guarantee Fund.”

“This investment not only demonstrates our commitment to supporting the growth and resilience of the agriculture sector in Angola, but also aligns with [FSA’s] mission to generate long-term returns while contributing to the sustainable economic development of the country,” Minbos MD Lindsay Reed said.

“The Cabinda Phosphate Project constitutes an important piece in the development of the national capacity to provide the necessary inputs to boost agricultural productivity in Angola.”

MNB last traded at 5.3cps.

Join the discussion: See what HotCopper users are saying about Minbos Resources and be part of the conversations that move the markets.

MNB by the numbers
More From The Market Online
The Market Online Video

ASX Market Close: Index tracks lower in choppy session | March 19, 2025

The ASX200 closed down 0.4% at 7,828 points.
Laptop on board room table

Independent review highlights White as ‘misleading’ Wise Tech board

Wise Tech Global Ltd has released a partial review of its board examining allegations about co-founder…
A treasure chest full of gold

Trigg boosts gold-antimony footprint with tenement package acquisition in NSW

Trigg Minerals Ltd has picked up a tenement package which includes multiple historic gold mines and…