Minbos Resources (ASX:MNB) signs MoU with Stamicarbon -Agbelo News

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  • Minbos Resources (MNB) signs a memorandum of understanding (MoU) with global green ammonia production leader Stamicarbon, a Maire Tecnimont subsidiary
  • Under the MoU, the companies will collaborate to conduct a six-month technical study for the Capanda Green Ammonia Plant in Angola, Southern Africa
  • The technical study will assess a mixed production profile of 300,000 million tonnes per annum of green ammonium nitrate products
  • The company says the MoU and scoping study marks a natural progression of the working partnership
  • Shares in Minbos Resources are up 7.69 per cent to trade at 14 cents at 11:40 am AEST

Minbos Resources (MNB) has signed a memorandum of understanding (MoU) with global green ammonia production leader Stamicarbon, a Maire Tecnimont subsidiary.

Under the MoU, the companies will collaborate to conduct a six-month technical study for the Capanda Green Ammonia Plant in Angola, Southern Africa.

The technical study will assess a mixed production profile of 300,000 million tonnes per annum of green ammonium nitrate products.

The company received a draft of the MoU from the Angolan power authority (RNT-EP) which affirms the 200 megawatt (MW) power allocation and concessional pricing of an initial 100MW at US 0.4 cents (A 0.58 cents) per kilowatt-hour for five years. It also affirms a pricing of US 0.8 cents per kilowatt hour for 20 years and subsequent 100MW at US 1.5 cents per kilowatt hour for 25 years.

Commenting on the MoU, Minbos CEO Lindsay Reed said the hydro power-to-Ammonia plant will support Angola’s low-carbon and inclusive growth, its agricultural output and its smallholder farmers and communities.

“Having overseen more than 250 fertiliser plants and numerous Green Ammonia initiatives…, the team at Stamicarbon are eminently qualified to help deliver what will be perhaps the most compelling Green Energy-Powered-Project Globally.”

Stamicarbon Director of Technology Licensing David Franz reiterated Ms Reed and further said that Capanda is potentially the first green ammonia project that is truly competitive with traditional fossil-fuel alternatives.

The MoU and scoping study marked 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.

Shares in Minbos Resources were up 7.69 per cent to trade at 14 cents at 11:40 am AEST.

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