CABINDA PHOSPHATE PROJECT

CABINDA PROJECT GEOLOGY

The Project consists of sediments from the cretaceous and tertiary periods deposited in a large basin situated in the southern part of the Republic of the Congo, northwestern part of Angola and the western part of the Democratic Republic of the Congo.

Phosphate rock is usually beneficiated into a rock phosphate concentrate and is rarely suitable for directly application as a fertilizer. In phosphate fertilizer terminology, phosphate ore usually refers to unprocessed phosphate from the mine, and rock concentrate usually refers to the beneficiated phosphate suitable for further downstream processing into phosphoric acid and other phosphate products.

Phosphate rock (whether igneous or sedimentary) is often called apatite. The name apatite derives from the Greek word apate, meaning deceit. An appropriate name for a mineral with many deceptively different forms. Both ore types may vary considerably in chemical and mineralogical composition, and consequently many beneficiation processes have evolved to treat the different phosphate ore deposits. Most often the objective of beneficiation is to produce phosphate rock suitable for making phosphoric acid and granular phosphatic fertilizers. The most important use of phosphate rock is in the production of phosphate fertilizer for agriculture and over 80% of the global production goes into fertilizer.

RESOURCE OVERVIEW

Combining results from the Company’s drilling program and historical drill data, Minbos has delineated a total resource of 391.3Mt @ 9.2% P2O5.

Minbos’ focus is to explore if there is an opportunity to tender or partner back into the phosphate projects.

GREENHOUSE TRIALS

In phosphate fertilizer terminology, phosphate ore usually refers to unprocessed phosphate rock from the mine, and rock concentrate usually refers to beneficiated phosphate rock suitable for further downstream processing into phosphoric acid and other phosphate products.

Over the past 18 months, greenhouse trials have been conducted by the International Fertilizer Development Center (IFDC) with Cabinda Project phosphate rock. A Cabinda Rock Phosphate/Water Soluble Phosphate (WSP) blend was applied as tablets to four crops including: winter wheat, maize and residual maize and sorghum in soils ranging from 4.8 to 7.8 ph. The trials are ongoing.

Blended Cabinda Phosphate Rock with Water Soluble Phosphate (WSP) fertilizer, performs with similar relative agronomic effectiveness to the WSP concentrate but at a significant economic advantage in crops, soils and climate typical to Angola.

Angolan soils, crops and climate are ideally suited for WSP enhanced rock phosphate which prefers moist acidic soils and staple crops such as cereals and legumes.

COMMERCIAL STRATEGY – PUBLIC/PRIVATE PARTNERSHIP

Minbos has invested more the $20M over 8 years on phosphate projects in the Congo Basin and has developed specific technical knowledge and financial support capable of advancing phosphate projects in the regional context.

Leveraging Minbos’ Cabinda Phosphate Rock/Water Soluble Phosphate blend and in public/private partnership with the Government of Angola, Minbos is seeking be a significant commercial provider of high-yield, low-cost fertilizer to local and regional agricultural sectors.

With a population of 25.8 million and Agriculture the predominant economic activity in rural areas, accounting for 12.9 percent of GDP and employing 70 percent of the economically active population1, the Company believes Cabinda Rock Phosphate Blend will make a significant difference to the agricultural sector in Angola and the great Congo Basin.

STRONG INSTITUTIONAL AFRICAN SUPPORT

Based on the country’s natural endowments, agriculture is well positioned to transform the country, promote economic diversification and boost exports and generate foreign exchange. The African Development Bank intends to play a catalytic role by providing lines of credit as well as leveraging PPP transactions to ease access to finance for private sector and SMEs, to transform agriculture as a business, reduce local food prices, enhance food security and improve the country’s economic competitiveness. By supporting the agro poles development and the agro industries, the Bank will contribute to achieve one of the High 5s target of Industrialise Africa. – African Development Bank (statement on Angola)

Investments in agro poles and agro industries through provision of lines of credit to private sector can help boost local food production and exports. – African Development Bank

ENVIRONMENTAL AND SOCIETAL CONTRIBUTION

Much of the population in Angola live in the rural areas and are dependent on agriculture, a locally produced enhanced phosphate rock will promote agricultural productivity gains and reduce on food import dependence.

PROFESSIONAL ASSOCIATIONS

IFA
The International Fertilizer Association (IFA) was founded in 1927 and is the only global fertilizer association with a membership of 480 companies in 68 countries. 45% of IFA’s membership is based in developing economies. IFA Members represent 75-80% of global fertilizer production.

IFA’s Members include fertilizer producers, traders and distributors, as well as their associations, service providers to the industry, research organizations, and non-governmental organizations (NGOs).

IFDC – Commercial partner
For more than 40 years, IFDC has helped millions of farmers produce and sell more food through fertilizer technology research and agricultural market development. With the global population rising to nearly 10 billion by 2050, their work is more important now than ever before.

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