Minbos Resources Ltd (ASX:MNB) CEO Lindsay Reed joined Proactive's Stephen Gunnion with details of the company's plan to become the predominant nutrient supplier in Angola, aiming to fill a significant gap in the region.
Angola, part of the ECOWAS economic community, lacks primary fertilizer producers despite having one of the fastest-growing populations globally. Minbos is prioritizing the production of phosphate, a crucial nutrient for the country's expansive arable lands, and then nitrogen.
The company recognized the potential after studying the Cabinda phosphate project. Notably, the phosphate rock it has discovered suits Angola's unique soil conditions, potentially tripling crop yields and bolstering food security. This growth opportunity aligns with Angola's push to revitalize its agriculture, shifting from heavy reliance on imports.
Further, Reed discussed the company's progress with the Cabinda project, highlighting a recent loan facility with South Africa's Industrial Development Corporation and promising trial results over the past five years that further solidify its position.
Additionally, Minbos is making strides in green ammonia, securing a deal for 200 megawatts of renewable power, marking it possibly the most affordable renewable energy globally.