Minbos Resources announce quarterly activities report for Q424
Published by Emilie Grant,
Editorial Assistant
World Fertilizer,
Minbos Resources Ltd has provided an activities report on a pivotal Q424, marking the beginning of an exciting new chapter for the company.
Minbos commenced construction of the Cabinda Phosphate Fertilizer Project. Backed by a strategic financing agreement with the Angolan Sovereign Wealth Fund (FSDEA), Minbos is now ready to bring its vision to life.
The fertilizer plant is under construction with Grupo Arliz, supported by a signed civil construction contract, paving the way for this important project to deliver long-term value.
At the beginning of December, Minbos and Banco Angolano de Investimentos, S.A. (Banco BAI), signed a final term sheet in relation to a US$12 million term loan to be provided by Banco BAI to Soul Rock Ltd, a subsidiary of the company for the Project. The company and Banco BAI are now negotiating a loan agreement in relation to this loan.
Minbos also signed a US$14 million loan facility agreement with the International Development Corp. of South Africa Ltd (IDC). The company is working towards satisfying the remaining conditions precedent under this agreement, including signing the Banco BAI loan agreement and satisfying IDC’s offtake requirements.
Highlights
- Commencement of construction at the Cabinda Phosphate Fertilizer Project.
- US$14M Cabinda Phosphate Fertilizer Project debt facility agreement executed with IDC.
- US$10M subscription agreement signed with FSDEA, with first tranche of funds of US$6.40M received Banco BAI final term sheet signed for a US$12M funding package.
- Civil Construction contract signed and construction underway with Grupo Arliz.
Read the article online at: https://www.worldfertilizer.com/project-news/31012025/minbos-resources-announce-quarterly-activities-report-for-q424/
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