Minbos Resources, an Australian-based mining and agricultural development company, has secured a $16 million debt facility from the Industrial Development Corporation of South Africa (IDC) to advance its Cabinda phosphate fertilizer project in Angola.

The funding marks a critical step in expanding Africa’s industrial fertilizer capacity and enhancing food security in the region.

Phase 2 construction to begin after March drawdown

The IDC facility will fund Phase 2 construction of the Cabinda phosphate plant, covering structural, mechanical, electrical, and instrumentation works. Phase 1 construction is on track for completion in March, positioning the project to meet rising fertilizer demand across Angola and the Congo Basin.

Minbos expects the first loan drawdown by the end of March, contingent on completing security arrangements and shareholder approvals for Minbos subsidiaries and local Angolan entities.

Stakeholder engagement strengthens project backing

Acting CEO Rob Newbold and CFO Blair Snowball recently visited Luanda to meet key stakeholders, including Jacinto Ferreira dos Santos Rocha, chair of the National Agency for Mineral Resources, and Armando Manuel, chair of the Fundo Soberano de Angola (FSDEA).

Officials confirmed that discrepancies regarding the expiry date of Minbos’ mining license will be corrected. Discussions with FSDEA reaffirmed support for the IDC facility and established a joint task force to explore additional funding to meet working capital requirements.

IDC partnership enhances financial security

“Minbos is grateful for the continued support and diligence of the IDC,” said CFO Blair Snowball. “The project has navigated several challenges since the initial loan agreement in September 2024. Overcoming these hurdles has strengthened the fundamentals, positioning Cabinda as a resilient and strategically important fertilizer venture.”

The company is also negotiating with an Angolan lender to complete project funding. This additional support will secure construction financing and provide a de-risked structure for all lenders involved.

Driving agricultural productivity and food security

Minbos Resources is an Australia‑based exploration and development company focused on building a sustainable nutrient supply and distribution business to catalyze agricultural productivity and bolster food security across Angola and the broader Congo Basin.

Its portfolio includes flagship assets such as the Cabinda Phosphate Project and the Capanda Green Ammonia Project, both designed to address chronic nutrient deficits in regional farming systems.

Listed on the Australian Securities Exchange (ASX), Minbos aims to transform nutrient access in emerging markets, aligning private sector capital with Africa’s strategic drive toward agricultural self‑sufficiency and industrialised fertilizer production.