ASX-listed junior Minbos Resources has enacted a takeover of its Angolan joint venture (JV) partner in the Cabinda phosphate project, Petril Phosphates, agreed upon in December last year.
“Minbos is excited to finally execute the definitive sale agreement with the Petril shareholders. The merger will consolidate the ownership structure of the Cabinda project and simplify engagement with financiers and customers to finalise offtake and financing arrangements for the project later this year,” said Minbos CEO Lindsay Reed.
