Minbos Resources Limited (ASX:MNB) is an ASX-listed exploration and development company focused on industrial minerals projects in Madagascar and Angola.

Rare Earths Madagascar: The Company has entered into an option with Tana Minerals Ltd (Tana) whereby Minbos can acquire 90% of the shares in MRE Mining (Mauritius) Limited (MRE). MRE’s sole asset is a wholly owned subsidiary in Madagascar which holds two exploration permits in central Madagascar covering 440 square kilometres.

Under the agreement Minbos has the exclusive right to acquire 90% of the shares in MRE. Terms of the Exclusivity:

  • $10k consideration for exclusivity;
  • Minbos commits $250k to expenditure on drilling;
  • $25k to extend the exclusivity post the drilling until completion of the transaction.

The transaction is conditional upon Minbos obtaining all the required regulatory and shareholder approvals, completing due diligence on the project and the renewal of the exploration permits.

Phosphate Angola: The Cabinda Project Exploration License is held by Mongo Tando Lda in which Minbos holds a 50% share through the Joint Venture Company Mongo Tando Ltd.  The two Cabinda Project licenses cover 1,909km² were issued in October 2015 for a term of five years and are renewable for a further two years. The agreements for the licences cover not only prospecting rights but also the mining phase of the Cabinda project.


Cabinda Phosphate ProjectAngola

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