Name of the Project
Cabinda phosphate project.

Location
Cabinda, Angola.

Project Owner/s
Exploration and development company Minbos Resources.

Project Description
A definitive feasibility study has shown robust economics, with relatively low capital-expenditure requirements.

The project includes the Cácata phosphate deposit and the Futila fertiliser plant.

The phosphate deposit has proven and probable reserves of 4.72-million tonnes at 30.1% phosphorous pentoxide. The mine supporting the ore reserve is based on the openpit mine using a conventional truck-and-shovel mining methodology.

The fertiliser plant will have a capacity of up to 187 500 t/y in a one-plant scenario, expanding to two plants in supporting an estimated 20-year project life. Each train will have a production capacity of about 187 500 t/y.

Base case fertiliser production is estimated at 236 000 t/y.

Potential Job Creation
Not stated.

Net Present Value/Internal Rate of Return
In the base case, the project has an after-tax net present value, at a 10% discount rate, of $203.2-million and an internal rate of return of 39%, with a payback of 4.8 years.

Capital Expenditure
$48.5-million.

Planned Start/End Date
First production is expected in the fourth quarter of 2023.

Latest Developments
Minbos Resources has announced a shift in its development strategy, outlining a lower capital expenditure “accelerated start” that will allow for early production and sales of unprocessed phosphate rock to export and domestic markets.

MD Lindsay Reed said in a statement on November 26 that the early-start approach enables the company to accelerate production and derisk the full-scale implementation by “bringing more certainty and timeliness to sales, shipping, operations and finance ahead of financial drawdown”.

The strategic update follows feedback from potential customers confirming they would accept screened and dewatered, but otherwise unprocessed, material to allow for early supply.

The revised approach removes the need to install and commission the crushing, drying and dust extraction circuit at the Subantando plant from the outset. The change decreases upfront capital costs by about $20-million and lowers operating costs by about $17/t for the early-start product.

Stockpile dewatering technology supplied by moisture reduction systems will be installed at the Cacata mine site. The system, quoted at $250 000 for a 200 000 t/y capacity, reduces moisture from more than 20% to about 6% in trials on Cacata ore, with most of the moisture removed within eight hours.

Existing screens and civil works at Subantando will be used to screen product to specification, removing oversize material above 5 mm.

Key Contracts, Suppliers and Consultants
DRA (principal engineer process plant design and costing, including infrastructure for granulation plant); IFDC (fertiliser trials, granulation and beneficiation pilot testing, process design inputs, and marketing studies); FEECO (major plant equipment design and supply); Mintek (material characterisation); SRK (mineral resource statement); Orelogy/Majesso (pit optimisation, mine design, scheduling, reserve statement and contract mining cost estimates); GRD Engenharia (geotechnical studies on plant site); HCV Africa (environmental baseline and social studies, environmental impact and social assessment); Grupo Simples (environmental-impact study and waste management plan); and EPC Engenharia (detail design, procurement, engineering, procurement and construction management services).

Contact Details for Project Information
Minbos Resources, tel +61 8 6270 4610 or email info@minbos.com.