Minbos Resources Limited Expands Green Ammonia Project in Angola
Key Ideas
  • Minbos Resources Limited (MNB) signed a collaboration agreement with Talus Renewables Inc. for green ammonia production, marking a cost-effective shift from previous systems.
  • MNB aims to secure an additional $10M for the green ammonia project in Angola, leveraging support from the Angolan government and local hydro-electric power sources.
  • The collaboration aligns with MNB's focus on the phosphate fertiliser project in Angola, with targeted first production in Q2 2025 and ongoing efforts to secure funding and offtake agreements.
  • The recent $14M loan facility approval from the Industrial Development Corporation (IDC) sets the stage for MNB to progress with its projects and commercial opportunities, further solidifying its position in the market.
Minbos Resources Limited (ASX:MNB) has announced a non-binding collaboration agreement with Talus Renewables Inc., signaling a strategic move towards green ammonia technology in Kenya. The modular setup presents a significant cost reduction compared to previous systems. By leveraging ultra-cheap green hydro power at $1.1c/kWhr, the partnership aims to expedite the green ammonia project in Angola. The company estimates the need for an additional $10M to advance the project, with potential funding sources from various Angolan government initiatives. This aligns well with the emphasis on the domestic Agricultural industry and the overall economic growth in the country. MNB's focus on the phosphate fertiliser project in Angola remains strong, with plans for first production targeted in Q2 2025. A key aspect involves securing funding, including a recent $14M loan facility approval from the Industrial Development Corporation (IDC). The IDC support not only provides financial backing but also opens up commercial opportunities, particularly for offtake agreements. The collaboration with Talus Renewables Inc. demonstrates MNB's commitment to green ammonia production and aligns with its strategic objectives. The positive sentiment surrounding the partnership and funding approvals bodes well for MNB's continued growth and development in the renewable energy and agriculture sectors.
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