Ann: Quarterly Activities Report and Appendix 5B, page-113

I've posted previously I found it interesting the IDC introduced Minbos to potential S African customer(s). I've always thought there is more to this, possibly wanting Minbos to secure more offtake to safeguard the loan.

Foskor is a large S African fertiliser company and IDC just happen to be the major shareholder. So the IDC is very well connected to the Phosphate business. My guess is they want an offtake for a company they are involved with (not necessarily Foskor) and in return they'll provide some finance.

Google "IDC foskor phosphate" the results are interesting.
Try starting with this article
https://www.miningmx.com/news/markets/54540-idc-revives-plan-to-list-foskor-after-phosphate-producer-posts-profit/