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Minbos Resources Limited (ASX:MNB)

ALERT: Price-sensitive ASX Announcement for MNB
Current share price for MNB : $0.022 -0.024 (-52.17%)+
Announcement
Release
27 Oct 2025 8:47AM
Price at Release
$0.046
Full Release
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Summary
Minbos Resources Limited has signed a binding Heads of Agreement with Talus Renewables Inc. to jointly develop the Capanda Green Ammonia Project in Angola. This initiative involves a bid for a European green ammonia procurement process and aims to utilize significant renewable electricity to produce green ammonia for both domestic use and export. The agreement focuses on leveraging Angola's renewable energy advantages and growing agricultural demand, with an emphasis on de-risking the project through government-backed contracts and modular deployment. The project's first sales are expected in 2028, and it is positioned to support both local economic diversification and European decarbonisation goals. The venture will proceed to a full feasibility study and, if successful, will result in the establishment of a joint venture to execute the project. If unsuccessful, the parties will default to a Collaboration Agreement to pursue other opportunities.
Key Points
  • Minbos Resources Limited has entered into a binding Heads of Agreement with Talus Renewables Inc. to develop the Capanda Green Ammonia Project in Angola.
  • The agreement involves submitting a bid for a European green ammonia procurement process, utilizing half of the power available to Minbos under its MOU with Angola's National Electricity Transmission Network.
  • The project will focus on both domestic and export markets, with significant benefits for Angola's agriculture and mining sectors.
  • The development aligns with Minbos' Cabinda phosphate project, leveraging Angola's renewable energy advantage and growing agricultural demand.
  • An export-focused Market Study has already been completed, and the project is expected to proceed to a full Definitive Feasibility Study.
  • The project aims to deliver competitive green ammonia to Europe and other regions, with first sales anticipated in Q1 2028.
  • The joint venture will take advantage of Angola's low power costs and government-backed offtake agreements to de-risk and finance the project.
  • Minbos and Talus will establish a joint venture company to fund and operate the export project upon winning the bid.
  • The project also aims to strengthen food security and mining supply chains across Africa.
  • If the auction bid is unsuccessful, the parties will revert to a Collaboration Agreement and are free to explore other opportunities.
IMPORTANT NOTE: This information is autogenerated and has not been reviewed for accuracy or completeness. You should refer to the full announcement here for further information.