Minbos Resources Limited (ASX: MNB), an Australian-based company focused on the development of an integrated phosphate mine and fertiliser project in Angola, has announced the signing of a US$13.8 million Phase 2 construction contract. The agreement with Portuguese and Angolan construction group, Grupo Arliz, targets the Cabinda Phosphate Fertiliser Plant (CPFP) and covers all remaining construction works required to reach dry commissioning.
This crucial contract encompasses structural steel, mechanical installation, electrical and instrumentation works, and process control systems. It marks a significant transition from the completed civil works into the final construction phase. Phase 1, also executed by Grupo Arliz, successfully delivered the project platform, roads, drainage, slabs, and foundations. Importantly, the plant and equipment, designed by FEECO International, were shipped to Angola in 2023 and are already on site, mitigating potential capital cost inflation and schedule risks.
The contract follows Minbos receiving the first drawdown under its IDC funding facility and the signing of a Banco de Fomento Angola term sheet, which collectively strengthen the funding package for project completion. Minbos Chief Executive Officer Rob Newbold stated the signing is a significant milestone for the project, noting that with civil works complete, the final build phase is underway with funding deployed and the plant on site. He added that the contract materially de-risks project delivery and advances Minbos closer to supplying locally produced phosphate fertiliser to support Angola’s agricultural growth.
