Minbos held 50% of the Cabinda Phosphate Project comprising two licenses, which covered 1,909km² in the province of Cabinda. Minbos has invested more than $20M over eight years on phosphate projects in the Congo Basin and developed specific technical knowledge and financial support to advance phosphate projects in the regional market. Minbos is leveraging this knowledge and financial capacity to tender for the Cacata Phosphate licenses in Cabinda to build a granulation plant and produce Enhanced Phosphate Rock for the domestic fertiliser market.
Located in central Madagascar, 200km south of the capital city Antananarivo, the Ambato Rare Earths Project comprises two permits covering 440km2. Surface sampling has returned high-grade Rare Earth Elements (REE) contained predominantly in Bastnaesite. Bastnaesite is typically low in Uranium and Thorium and one of only three REE minerals to have been commercially beneficiated.
The Ankazohambo prospect has been sampled over 2.4km strike length returning rock chip samples up to 41% Total Rare Earth Oxides (TREO) of predominantly bastnaesite with low uranium and thorium. The project hosts multiple occurrences outcropping at surface that remain undrilled.
Minbos has entered into an option with Tana Minerals Ltd (Tana) whereby Minbos can acquire 90% of the shares in MRE Mining Limited. MRE’s sole asset is a wholly owned subsidiary in Madagascar which holds two exploration permits (The Ambato Rare Earths Project).