Minbos Resources has received the second tranche of funding for the Cabinda Phosphate Fertilizer Project in Angola, securing $2.43 million from the Fundo Soberano de Angola.
The final $1.17 million tranche will be disbursed upon completion of project insurance renewals and supplier quotations.
Located in Cabinda Province, the project involves open-pit mining and fertilizer production, with an estimated 20-year mine life. Proven and probable reserves stand at 4.72 million tons.
Minbos Resources, which holds an 85% stake in the project, has already begun field trials, reporting strong results.
The project is expected to play a key role in enhancing Angola’s agricultural sector through sustainable fertilizer production.
