Minbos Resources Secures Funding for Cabinda Project

Minbos Resources Limited (AU:MNB) has released an update.

Minbos Resources Limited has secured US$22 million in funding through debt and equity to advance the construction of its Cabinda Phosphate Fertilizer Project. This includes a US$10 million equity investment from the Angolan Sovereign Wealth Fund and a US$12 million term sheet with Banco Bai. Construction has now commenced at the plant, with US$8 million worth of equipment already on site and ready for assembly.

For further insights into AU:MNB stock, check out TipRanks’ Stock Analysis page.