Minbos Resources signs US$13.8M construction contract
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- Minbos Resources signs US$13.8 million construction contract.
- The contract initiates the final construction phase for the Cabinda Phosphate Fertiliser Plant.
- The project aims to support Angola's agricultural growth and reduce import reliance.
Minbos Resources (ASX:MNB) has executed a US$13.8 million construction agreement with Grupo Arliz to advance its Cabinda Phosphate Fertiliser Plant in Angola through to dry commissioning.
This contract follows the completion of civil works, such as roads and foundations, which were delivered by the same contractor during Phase 1.
“The signing of the Phase 2 construction contract is a significant milestone for Minbos and Angola’s only integrated phosphate mine and fertiliser project,” said Minbos Resources Chief Executive Officer Rob Newbold.
The scope of work includes structural steel, mechanical installation, electrical and instrumentation systems, and process control, with the company stating the deal is expected to de-risk project delivery.
Following the announcement, the Minbos Resources share price was unchanged at $XX.
The company has already procured the plant equipment, which was designed by FEECO International and shipped to Angola in 2023 to mitigate cost and schedule risks.
Minbos continues to strengthen its project funding, having recently received the first drawdown from its IDC funding facility and signed a term sheet with Banco de Fomento Angola.
