Minbos Resources Limited (AU:MNB) has released an update.
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Minbos Resources Limited has secured a $14 million debt facility with the International Development Corporation of South Africa, to fund the construction of its Cabinda fertilizer plant in Angola. The company is also awaiting a favorable decision on a $15 million term loan from Banco BAI, with inspection visits and credit committee approval processes well underway. Additionally, the Sovereign Wealth Fund of Angola is set to invest in Minbos’ Mauritian subsidiary Phobos Limited, which holds an 85% share in the Cabinda Phosphate Project.
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