Next Investors logo grey

Minbos’ environmental and social impact statement is now underway


Published 29-APR-2021 11:16 A.M.


2 minute read

Hey! Looks like you have stumbled on the section of our website where we have archived articles from our old business model.

In 2019 the original founding team returned to run Next Investors, we changed our business model to only write about stocks we carefully research and are invested in for the long term.

The below articles were written under our previous business model. We have kept these articles online here for your reference.

Our new mission is to build a high performing ASX micro cap investment portfolio and share our research, analysis and investment strategy with our readers.

Click Here to View Latest Articles

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.

General Information Only

S3 Consortium Pty Ltd (S3, ‘we’, ‘us’, ‘our’) (CAR No. 433913) is a corporate authorised representative of LeMessurier Securities Pty Ltd (AFSL No. 296877). The information contained in this article is general information and is for informational purposes only. Any advice is general advice only. Any advice contained in this article does not constitute personal advice and S3 has not taken into consideration your personal objectives, financial situation or needs. Please seek your own independent professional advice before making any financial investment decision. Those persons acting upon information contained in this article do so entirely at their own risk.

Conflicts of Interest Notice

S3 and its associated entities may hold investments in companies featured in its articles, including through being paid in the securities of the companies we provide commentary on. We disclose the securities held in relation to a particular company that we provide commentary on. Refer to our Disclosure Policy for information on our self-imposed trading blackouts, hold conditions and de-risking (sell conditions) which seek to mitigate against any potential conflicts of interest.

Publication Notice and Disclaimer

The information contained in this article is current as at the publication date. At the time of publishing, the information contained in this article is based on sources which are available in the public domain that we consider to be reliable, and our own analysis of those sources. The views of the author may not reflect the views of the AFSL holder. Any decision by you to purchase securities in the companies featured in this article should be done so after you have sought your own independent professional advice regarding this information and made your own inquiries as to the validity of any information in this article.

Any forward-looking statements contained in this article are not guarantees or predictions of future performance, and involve known and unknown risks, uncertainties and other factors, many of which are beyond our control, and which may cause actual results or performance of companies featured to differ materially from those expressed in the statements contained in this article. S3 cannot and does not give any assurance that the results or performance expressed or implied by any forward-looking statements contained in this article will actually occur and readers are cautioned not to put undue reliance on forward-looking statements.

This article may include references to our past investing performance. Past performance is not a reliable indicator of our future investing performance.