Minbos Resources Limited (AU:MNB) has released an update.
Minbos Resources Limited has made significant progress in the first quarter of 2024 on their Cabinda Phosphate Fertilizer Project in Angola, aimed at boosting local agricultural yields and reducing reliance on expensive imported fertilizers. The company has optimized the project’s design, lowering construction times and costs, and expects the project’s completion to take nine months, with financing largely secured through a US$14 million debt facility from the International Development Corporation of South Africa. Additionally, their agricultural trials with various crops continue to advance, promising to enhance farming practices and productivity in the region.
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