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Name of the Project
Cabinda phosphate project.
Location
Cabinda, Angola.
Project Owner/s
Minbos Resources.
Project Description
A definitive feasibility study has shown the Cabinda phosphate project to have 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.
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 flagged a $10-million capital cost saving at its Cabinda phosphate project on the back of a simplified flowsheet.
The company has reported that, following field trials in December 2022, which confirmed that phosphate rock from the Cácata mine was suitable as a direct application fertiliser product in most of Angola’s major growing region, the company undertook a review of its production profile.
This review has resulted in a simplified flowsheet to produce a beneficiated phosphate rock, with the core plant comprising the crusher, dryer and bagging plant, and resulting in a cost saving of $10-million.
The simplified flowsheet is also expected to result in lower operating costs, owing to lower energy, maintenance and fixed cost requirements.
As part of the review, the Minbos has also completed feasibility work on a Stage 2 expansion for the plant, which is expected to more than double capacity, with updated capital costs being reviewed.
Minbos has told shareholders that the company will continue its field trial work with Angola’s national agricultural research and technology development institution Instituto de Investigação Agronómica, with eight new field trial locations planned over the next four years.
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.