ASX-listed Minbos Resources (ASX:MNB) has signed an engineering, procurement, and construction management (EPCM) contract for its Cabinda Phosphate Project in Cabinda, Angola.
The US$4.25 million contract is for the construction of the Cabinda Phosphate Fertiliser Plant and formalises the engagement that was initially started in 2022 with a limited notice to proceed (LNTP) agreement.
Minbos Resources shares have risen 13.64% to $0.12 as of midday AEST.
Minbos Resources shares have risen 13.64% to $0.12 as of midday AEST.
Since the LNTP agreement was signed with EPC Engenharia (Engenharia e Projectos de Infraestrutura Lda) in February 2022, the plant has been redesigned, resulting in savings of over US$10 million.
Additionally, the plant was relocated from Futila to Subantando, cutting the trucking distance from the Cacata Phosphate mine site in half.
Minbos says community work is continuing at the Cacata Phosphate mine site, with the installation of a water supply for the village now completed.
Further work is already underway, with the clearing of the project site and perimeter fencing completed last week and earthworks and civils set to begin immediately.
EPC is an experienced Brazil-based provider of EPC, EPCM, and turnkey solutions comprising engineering, conceptual, basic and detailed projects, supply management, and project management for larger companies, both nationally and internationally.
Minbos Resources is an ASX-listed phosphate fertiliser and nutrient company. The company says its Cabinda Project is the first step in developing a ‘high-impact’ self-sustaining agricultural sector throughout Angola and middle Africa.
Write to Aaliyah Rogan at Mining.com.au
Images: Minbos Resources Ltd
