Minbos Resources Limited (ASX: MNB) announced that the Ministry of Mineral Resources, Petroleum and Gas (MIREMPET) has approved the Company’s Mining Licence, renewable for up to 35 years, for the mining of phosphate at its Cabinda Phosphate Project in Angola.
Exclusive mining rights for 35 years
The company announced that the Angolan government has granted exclusive mining rights for up to 35 years over an 85km2 area including the designated project area within the Cabinda Phosphate Project.
MNB said that this encompasses the Cácata high-grade phosphate deposit, proposed open-pit mine, waste and ore stockpiles, and all associated infrastructure required for the mining operations.
Angola awards mineral rights through the execution of both a Mineral Investment Contract (MIC) and a Mining Licence issued in accordance with the Mining Code.
MNB said that in June 2020, the Minister invited Minbos to finalise a MIC after winning the public tender for the Cabinda Phosphate Project. The MIC was executed on 27 January 2021.
Plan for Cácata deposit
The Cácata deposit is a uniquely low-impact mining project, with a relatively small environmental footprint and long operational life.
The company said that the Cabinda Phosphate Project’s planned small open pit operation at the Cácata deposit measures less than 2km in length with the mining amenities positioned around the pit and close to a local workforce. MNB said that the mine will also be located right next to the sealed dual carriage highway which is 50km from the proposed granulation plant at Port de Caio.
The company announced that its environmental consultants, Grupos Simples in Angola and HCV from South Africa will mobilise to Cabinda in early April to complete a wet season base line environmental survey in the Mining Licence area.
MNB said that a dry season base line survey will follow in the September quarter allowing the preparation and submission of the EIA and EISA for regulatory approvals and project financing.
Minbos reported that the DFS is progressing on schedule and the DRA is scheduled to complete the Engineering component in July. The company said that the IFDC is also currently assembling its team to formulate its market development program in Angola.
Minbos CEO Lindsay Reed said: “To receive our Mining Licence less than two months after executing a Mining Investment Contract, usually a 3-5 year process, is a timely confirmation by the Government of Angola of their commitment to support and accelerate our Project.
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.”
*Image Source: Minbos Resources Limited