ASX-listed Minbos Resources has been awarded a mining licence for its Cabinda phosphate project, in Angola.
The junior said late last month 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.
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 its environmental consultants would mobilise to Cabinda this month to complete a wet season baseline environmental survey in the mining licence area, with a dry season baseline survey to follow in the September quarter in preparation for an environmental-impact statement.