Minbos Resources has formally approved the purchase of two long lead items for its Cabinda phosphate plant in Angola.
A AUS$1.5 million forward order deposit is to be paid to North American-based FEECO International, with work to begin immediately on fabrication and manufacture of the granulation plant.
“The decision to order the major components of the granulation plant before completion of the DFS and final investment demonstrates a strong show of confidence from the Minbos Board that the DFS will confirm the project’s viability,” commented CEO Lindsay Reed.