Minbos’ environmental and social impact statement is now underway
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Minbos Resources Limited (ASX:MNB) has today updated the market on the progress of its Definitive Feasibility Study (DFS), noting that the Environmental and Social Impact Assessments (ESIA) are now underway and that a team from HCV Africa is on site in Cabinda to carry out baseline studies on the proposed Cácata Mine site.
Minbos won an international tender for the Cabinda Phosphate Project in 2020 and executed a Mineral Investment Contract with Angola in January 2021.
Along with its in-country partner, Soul Rock Ltda (15% carried interest), Minbos, won the tender based on producing Enhanced Phosphate Rock as a substitute for fertilisers currently imported by the Angolan Government for distribution to wholesalers and farmers.
The company's goal is to build a nutrient supply and distribution business, that stimulates agricultural production and promotes food security in Angola and the broader Middle Africa region.
In showing its support for the project, Angola’s Ministry of Mineral Resources and Petroleum approved the company's Mining Title, renewable up to 35 years, for the mining of phosphate at the Cácata Deposit.
HCV Africa will lead the ESIA and undertake specialist baseline studies and impact assessments, including Fauna (terrestrial: herpetofauna and avifauna and mammals), Aquatic ecology, Flora/vegetation, Air quality, Noise, Soils, Hydrology, Hydrogeology.
This assessment will form the basis of the previously announced Environmental Impact Study and a Waste Management Plan to be delivered in compliance with the Mining Licence and are integral to completing the fully funded Cabinda Phosphate Project DFS.
The DFS is due in Q1 2022 and had been on hold due to the COVID-19 pandemic, with teams from HCV (based in South Africa) unable to travel to Angola.
Minbos this week released its quarterly, which highlighted a long list of achievements including:
- execution of license with Angolan Government
- $7.3M now in the bank
- fully funded to DFS on its US$159-260M (After Tax NPV) phosphate project that will cost between $22M to $28M to develop
- investigating the potential for zero carbon ammonia production in Angola to provide nitrogen nutrient for farming and ammonium nitrate for mining.
tagsFOOD SECURITY DFS FULLY FUNDED CABINDA PHOSPHATE PROJECT ENVIRONMENTAL AND SOCIAL IMPACT ASSESSMENT
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