Minbos Resources (ASX:MNB) has launched wet and dry season environmental studies for its Capanda Green Ammonia Project in Angola ahead of a planned Prefeasibility Study (PFS).
The $83.07 million market capitalisation says the surveys are being completed by specialist consultancy HCV Africa, which provides international-standard environmental and social services, biodiversity assessments, environmental impact assessments, and environmental auditing.
Information produced from the survey is expected to feed into the project’s environmental and social impact assessment (ESIA), with work to be completed to an International Finance Coalition (IFC) standard, and an environmental impact assessment (EIA) to Angolan regulatory requirements.
Minbos reports the study will be driven by 100% renewable power from the Capanda hydroelectric complex and supported by a competitive power concession.
Tender work for key engineering providers is now underway in preparation for the upcoming PFS, which has been designed to further investigate the use of electrolysers to generate green hydrogen, as well as about 112,000 tonnes per annum of green ammonia.
This ammonia will be utilised to produce about 255,000 tonnes per annum of finished product, including fertiliser and mining explosives.
The appointment of an engineering company to carry out engineering studies on plant and infrastructure, as well as undertake market studies in Q4 2023, is anticipated to come next, according to Minbos.
Wet season baseline surveys are expected to follow in Q1 2024 ahead of the completion of the ESIA, which is scheduled for H2 2024.
Minbos Resources is an ASX-listed company working to build a nutrient supply and distribution business that stimulates agricultural production and promotes food security in Angola and the broader Congo basin.
The company says its Capanda project in Angola is one of the only cost-competitive zero-carbon green ammonia projects being developed globally.
With a ‘diverse’ and ‘fertile’ ecology, Angola currently holds the potential to become an agricultural producer through its arable land which is well suited to host a variety of crops and livestock including cassava, bananas, potatoes, corn, sweet potatoes, citrus, pineapples, and cattle.
Minbos Resources had $12.14 million cash at hand with no debt as of 30 June 2023, according to its latest quarterly report.
Write to Adam Drought at Mining.com.au
Images: Minbos Resources
