PERTH (miningweekly.com) – ASX-listed Minbos Resources has been awarded a mining licence for its Cabinda phosphate project, in Angola.
The Junior on Wednesday said that Angola’s Ministry of Mineral Resources, Petroleum and Gas had approved the mining licence, renewable for up to 35 years, to allow phosphate mining at the Cacata deposit.
“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,” said Minbos CEO Lindsay Read.
“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.”
A 2020 scoping study into the Cabinda project estimated that it would cost between $22.4-million and $27.9-million to develop, based on an initial nameplate capacity of 150 000 t/y of enhanced phosphate rock, but is forecast to start production at a rate of 50 000 t/y.
Minbos said on Wednesday that its environmental consultants will mobilise to Cabinda early in April to complete a wet season base line environmental survey in the mining licence area, with a dry season base line survey to follow in the September quarter in preparation for an environmental impact statement.
Other elements for a definitive feasibility study are also progressing, the company said.