Minbos Resources (ASX:MNB) secures US$14M for Angola Phosphate Project
Minbos Resources secured a US$14 million ($21.5 million) debt facility from the Industrial Development Corporation of South Africa for the Cabinda Phosphate Project in Angola.
The company also received firm commitments of $6.1 million from investors.
Construction is set to start by July, ensuring product delivery for the 2025/26 growing season.
The milestone enables Minbos to accelerate towards first production in the second quarter of 2025, supporting agricultural development in Angola.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.
