The Cabinda Project Exploration License (Figure 1) 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.
On completion of the Environmental Impact and Economic Viability Study the issue of a mining licence can be requested. The mining licence will be valid for thirty-five years, renewable for successive periods of ten years.
Minbos has delineated a substantial resource of 449.8Mt at 9.8% P2O5. Within this resource, two high grade projects have been identified at the Cacata and Kanzi Deposits. A summary of JORC resources is shown below:
In late 2015 Minbos announced a proposed merger with joint venture partner Petril Phosphates Limited (Petril), in addition to their 50% interest in the Cabinda Project, Petril also owns 100% of the Pedra de Feitico project and has a majority interest in the Lucunga Project through a joint venture with Haifa Chemicals.