In March 2020, The Angolan Ministry of Mineral Resources and Petroleum advised the Company that its tender submission for the Cácata Phosphate Concession (Cabinda Project), located in the Province of Cabinda, has been classified as 1st (or Successful).
With fertilizer consumption on the African continent projected to reach 13.6 million tonnes by 2030 (7.6 million tonnes currently), the Company’s immediate focus is on bringing the Cabinda Phosphate Project into production, a de-risked project uniquely positioned to address the exponential agricultural growth in Middle Africa.
The Company has previously released a phosphate resource estimate of 13Mt @ 26% P2O5, including an estimated 7Mt @ 30% P2O5.
The Ankazohambo prospect is one of seven known rare earth targets on the Ambato Rare Earths Project. Geophysics has delineated a 2km-long radiometric anomaly, with drilling and soil sampling programs confirming bastnaesite style rear earth mineralisation, similar to Mountain Pass in California.