Minbos Resources Limited (AU:MNB) has released an update.
Minbos Resources Limited has secured a US$14 million debt facility from the IDC for its Cabinda Phosphate Project and received strong backing with an AU$6.1 million capital raise. The company is gearing up for the construction of a phosphate fertilizer plant, with the project timeline set to meet the majority of a major phosphate customer’s needs by the 2025/26 growing season. A new Presidential Decree in Angola prioritizing local production over imports is expected to create a significant market advantage for Minbos as the sole phosphate fertilizer producer in the region.
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