The Minbos Resources Ltd (ASX: MNB) share price is rallying after the Australian-based phosphate miner provided an update on a multi-stakeholder event.
Minbos Resources (ASX:MNB) soars on mineral investment contract
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Shares in Minbos Resources (MNB) have spiked after the company executed the mineral investment contract for the Cabinda Phosphate Project
Under the contract, the company will explore and exploit phosphate rock within the Cabinda Phosphate Project’s concession area
The contract also formalises Minbos’ engagement with Angolan Government Ministries and the province of Cabinda
This will allow the company to complete approvals, access agreements, offtake agreements, and contracts for the Caio Granulation Plant
Minbos Resources is up 50 per cent, and is trading for $0.10 per share