Minbos secures new licence for remaining Cabinda project deposits in Angola

26 October 2015 (Last Updated October 26th, 2015 18:30)

The Angolan Ministry of Mines and Geology (MGM) has issued new licence to Minbos Resources for Chivovo, Chibuete, Ueca, Cambota and Mongo Tando deposits, which are part of the Cabinda project.

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The Angolan Ministry of Mines and Geology (MGM) has issued new licence to Minbos Resources for Chivovo, Chibuete, Ueca, Cambota and Mongo Tando deposits, which are part of the Cabinda project.

Issued for a five-year period for these remaining deposits, het new 015/01/10/T.P/ANG.MGM.2015 licence will expire on 14 October 2020 and is renewable for a further two-year period.

Minbos Resources CEO Lindsay Reed said: "We are extremely pleased that all licences for the Cabinda project has now been issued.

"The Cabinda project remains without peer in the Atlantic Basin."

On 7 October, Minbos received the licence 014/04/09/T.P/ANG.MGM.2015 for the Cacata deposit.

"Minbos Resources is exploring more than 200,000ha of highly prospective ground hosting phosphate ore."

It was also issued for five years and will expire on 25 September 2020.

According to the company, the two new licences replace the previous exploration permit 006/06/01/L.P./GOV.ANG.MGM.2010.

The issue of the new licence was preceded by Minbos and Petril Phosphates, its 50% joint venture partner signing two mining investment agreements in December last year with the MGM.

The company also signed a letter of intent with Port of Caio to secure port access for the Cabinda project.

Minbos Resources focuses on phosphate ore within the Cabinda Province of Angola, and is exploring more than 200,000ha of highly prospective ground hosting phosphate ore through its subsidiaries and joint ventures.


Image: The two new mining licences will replace the previous exploration permit. Photo: courtesy of Victor Habbick/FreeDigitalPhotos.net.