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
Phase 1 construction is scheduled to be completed in March 2026.

Latest Developments
Minbos has secured a $16-million debt facility from the Industrial Development Corporation of South Africa (IDC) to advance Phase 2 construction of its Cabinda project. 

The first drawdown is targeted by end-March 2026, subject to finalising security arrangements and obtaining the necessary shareholder approvals. The funding is earmarked for structural, mechanical, electrical and instrumentation work under Phase 2.

Minbos has indicated that certain security agreements still require approval by shareholders in its subsidiary Phobos (which includes the Fundo Soberano de Angola as an investor) and by shareholders of related Angolan entities – Soul Rock Lda and Minbos Resources. 

Minbos is also pursuing additional funding – particularly for working capital – including engagement with potential Angolan lenders.

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.