Australia's Minbos Resources rises on $16 million debt facility to advance fertlizer plant

Minbos Resources

02/03/2026 03:18

** Shares of Minbos Resources MNB.AX rise as much as 35% to A$0.027, their highest level since January 19

** The fertilizer distributor signs a $16 million debt facility with state-owned development finance institution Industrial Development Corporation of South Africa

** Funds available under the debt facility will be used to commence Phase-2 construction activities for the Cabinda Phosphate Fertilizer Plant, adds company

** About 16.7 million shares change hands, 4.2x the 30-day average

** Stock down 16.7% this year, as of last close

 (Reporting by Sherin Sunny in Bengaluru)

 ((Sherin.Sunny@thomsonreuters.com))