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Minbos Resources (ASX:MNB) - CEO, Lindsay Reed (left)
CEO, Lindsay Reed (left)
Source: Minbos Resources
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  • Minbos Resources (MNB) has received its mining licence for the Cabinda Phosphate Project, located in Angola
  • The approval came from Angola’s Ministry of Mineral Resources, Petroleum and Gas and is renewable for up to 35 years
  • The mining lease covers 85 square kilometres
  • Minbos will now undertake a wet season baseline environmental survey in the mining licence area
  • On the market this morning, Minbos is up 3.75 per cent and is trading at 8.3 cents per share

Minbos Resources (MNB) has received its mining licence for the Cabinda Phosphate Project, located in Angola.

The approval came from Angola’s Ministry of Mineral Resources, Petroleum and Gas and is renewable for up to 35 years.

With this approval, Minbos’ mining rights have been granted over an 85-square-kilometre area, including the designated project area.

“To receive our mining licence less than two months after executing a mining investment contract, usually, a three to five-year process is a timely confirmation by the Government of Angola of their commitment to support and accelerate our project,” CEO Lindsay Reed said.

“The company is now positioned to develop Angola’s first locally mined and manufactured fertilizer for sale into one of the most prospective growing regions globally,” he added.

What’s next?

Minbos’ environmental consultants, Grupos Simples in Angola and HCV from South Africa, will move to Cabinda in early April.

The consultants will complete a wet-season baseline environmental survey in the mining licence area.

A dry-season base line will follow in the September quarter, allowing the preparation and submission for the environmental impact assessment.

On the market this morning, Minbos is up 3.75 per cent and is trading at 8.3 cents per share at 11:33 am AEDT.

MNB by the numbers
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