Australia's Minbos Resources gets $16mn loan from South Africa's IDC to build Angolan fertiliser plant

About this update from Minbos Resources Limited

Minbos Resources (ASX: MNB) has secured a $16mn loan from the Industrial Development Corporation of South Africa Ltd (IDC) that it will use to advance the construction of a fertiliser plant in Angola . The Australian company said on March 2 it expects all the outstanding paperwork to be in order for the first drawdown to be completed by the end of 2026. The funds available under the debt facility will be used to start phase two construction activities for the Cabinda Phosphate Fertilizer Plant. The work entails structural, mechanical, electrical and instrumentation processes.  The initial phase is set to be completed this month. “Minbos is grateful for the continuous support shown, and hard work performed, by the IDC,” said Minbos’ CFO Blair Snowball . “The project has needed to overcome numerous challenges since a loan agreement was first signed with IDC in September 2024 . Fortunately, in overcoming the challenges, the fundamentals of the project are far stronger than before.  In parallel, the company has worked extremely hard to secure funding with an Angolan lender. Once secured it will complete the funding requirement for construction, but also, importantly, will provide an optimal structure for de-risking the project for all lenders.  The IDC is already engaged in negotiations for an intercreditor agreement with both of the company’s potential Angolan lenders.” The loan has a tenor of 84 months with Minbos obliged to make 24 equal quarterly instalments. © 2026 bne IntelliNews, source Magazine

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