Minbos Resources (ASX:MNB) has received a second tranche of funding – amounting to US$2.43 million – from the Fundo Soberano de Angola (FSDEA) to enable its continued development of the Cabinda phosphate fertilizer project.
The funds – received through Minbos’ subsidiary, Phobos – will go towards construction work at the project in Angola’s northwest, with a final tranche of US$1.17 million set to be received from the FSDEA once Minbos finalises renewal of insurances and presents supplier quotations for project long lead items.
The company has been carrying out field trials throughout the early months of 2025, with these showing the final phosphate product – Primeiro – achieves higher crop yields, especially in areas of low soil phosphorus and reduced pH (acidic) soils.
Indeed, increases of up to 80% have been demonstrated when Primeiro is the only source of phosphate, with the product acting to boost root development, flowering, and fruiting.
Crucially, local trials have indicated that in the absence of phosphorus, other nutrients have little effect – and Minbos is aiming to capitalise on this revelation in particular for its publicity.
Minbos has already completed a feasibility study for the Cabinda project, showing it to have an expected span of more than 20 years, producing 170,000 tonnes per annum.
Minbos shares moved up since the news, and at 11:54am they were trading at 4.7 cents – a rise of 6.82% since market open.
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