Minbos Resources Limited (ASX:MNB) (Minbos or the Company) is...

Minbos Resources Limited (ASX:MNB) (Minbos or the Company) is pleased to announce that it has signed a Memorandum of Understanding (MOU) with Stamicarbon (a subsidiary of Maire Tecnimont S.p.A.), a Global Leader in Green Ammonia Production.

Highlights

MOU with Stamicarbon, the Green Ammonia Innovation and License Company, to conduct a 6-month Technical Study for the Capanda Green Ammonia Plant.

Technical Study to access a mixed production profile of 300kmtpa of Green Ammonium Nitrate Products.

MOU and Scoping Study represents a natural progression of the working partnership, with Stamicarbon having provided technical input for the Minbos proposal to secure up to 200MW of Green Power.

Stamicarbon is the innovation and license company of Maire Tecnimont Group and a global market leader in the design and development of Green Ammonia Plants.

Backed by the Company’s average power price of US 1.1c/kWhr and supported by Stamicarbon, Minbos aims to establish Angola as the global leader in Green Ammonia Production.

The Company can also confirm, it has now received a draft of the MOU from the Angolan power authority (RNT-EP). Importantly, the draft MOU affirms the 200MW power allocation and concessional pricing of an initial 100MW at US 0.4c/kWhr for 5 years, US 0.8c/kWhr for 20 years and subsequent 100MW at US 1.5c/kWhr for 25 years.

Announcement just before the $25m CR in 2022 at huge discount to market