Minbos Resources' strategic funding achievement

Minbos Resources (ASX:MNB) has secured a US$12 million funding package for its Cabinda Phosphate Fertilizer Project in Angola. The funding, provided by Banco Angolano de Investimentos, S.A., will support the project's construction, aiming to supply phosphate fertilizer for the 2025 planting season.

Minbos Resources' project funding and future plans

Minbos Resources has successfully secured a US$12 million loan from Banco BAI for its Cabinda Phosphate Fertilizer Project. The project aims to meet regional agricultural needs by 2025. The loan is complemented by a US$14 million IDC loan facility and a US$10 million equity investment from the Angolan Sovereign Wealth Fund. Regulatory support, including directives favoring local production, bolsters the project's prospects. Minbos plans to complete the loan agreement and meet conditions for additional funding, moving forward with the plant's construction and expansion.

Executive insights on Minbos' funding milestone

The funding from Banco BAI represents a significant milestone for Minbos Resources as we advance our Cabinda Phosphate Fertilizer Project. This financial backing underscores our commitment to enhancing agricultural productivity in Angola.