Kibo Mining Plc CEO Mr Cotzee presenting at OBOR summit in Beijing
October 31 2017 - 4:00AM
RNS Non-Regulatory
TIDMKIBO
Kibo Mining Plc
31 October 2017
Kibo Mining Plc (Incorporated in Ireland) (Registration Number:
51931)
(External registration number: 011/007371/10)
Share code on the JSE Limited: KBO
Share code on the AIM: KIBO
ISIN: IE00B97C0C31
("Kibo" or "the Company")
Dated: 31 October 2017
Kibo Mining Plc ('Kibo' or the 'Company')
Visit to China and attendance at OBOR summit in Beijing
Kibo Mining Plc (AIM: KIBO; AltX: KBO), the multi-asset
resource, development and energy company focused on Tanzania, is
pleased to announce that CEO Louis Coetzee will be presenting at
the One Belt One Road ('OBOR') summit in Beijing this week,
highlighting the critical energy situation in Southern Africa and
the development of the Mbeya Coal to Power Project ('MCPP'). During
the trip Louis will also meet with the Company's Chinese
development partners, SEPCO III, as well as GE in addition to
visiting manufacturing facilities where it is envisaged some of the
critical Mbeya Power Plant components will be manufactured.
The OBOR summit brings together internationally recognised
individuals, companies and organisations to discuss the future of
industry and investment. The summit is intended to further the
Chinese leadership's ambition of developing beneficial investment
and trade links with Africa, Asia and Europe.
Mr Coetzee, a South African national who has worked in Tanzania
for the past 20 years, will be joining the 'Developing Successful
Power Projects in Africa' panel to discuss how to best address the
acute power shortage in Africa. Currently half of the population is
without electricity on the African continent, severely hindering
industrial growth. The MCPP is set to be greatly beneficial to
Tanzania, creating jobs as well as power for Tanzanian people.
Last week the MCPP was awarded Environmental & Social Impact
Assessment ('ESIA') certification from the Tanzanian government,
enabling the further development of the nationally important power
project. Mr Coetzee will also meet with potential project funding
partners to discuss gaining exposure to MCCP.
**ENDS**
For further information please visit www.kibomining.com or
contact:
Louis Coetzee +27 (0) 83 Kibo Mining Chief Executive
2606126 Plc Officer
Andreas Lianos +27 (0) 83 River Group Corporate Adviser
4408365 and Designated
Adviser on
JSE
Jon Belliss +44 (0) 207 Beaufort Broker
382 8300 Securities
Limited
Andrew Thomson +61 8 9480 RFC Ambrian NOMAD on AIM
2500 Limited
Hugo de Salis +44 (0) 207 St Brides Investor and
/ Priit Piip 236 1177 Partners Media Relations
Ltd Adviser
Notes to editors:
Kibo Mining is a multi-asset resource development and energy
company focused on South West Tanzania, listed on London's AIM
market and the AltX in Johannesburg. The Company's flagship asset
is the Mbeya Coal to Power Project ('MCPP'), which comprises the
development of the Mbeya Coal Mine, a 1.5Mt p/a mining operation
and the Mbeya Power Plant, a 300 MW mine-mouth thermal power
station.
The Mbeya Coal Mine has a defined 120.8 Mt NI 43 101 thermal
coal resource. A Definitive Feasibility Study has been conducted on
the project which underpins its value with an indicated IRR of
69.2%. The 300 MW mouth-of-mine thermal power station has long term
scalability to 1000MW, with a full Power Feasibility Study has been
published highlighting an annual power output target of 1,8 GW
based on annual average coal consumption of 1.5 Mt. An Integrated
Bankable Feasibility Study report for the entire project indicated
total revenues of US$ 7.5-8.5 billion over an initial 25-year mine
life, post tax equity IRR between 21-22%, debt pay-back period of
11-12 years and a construction period of 36 months.
To assist in the execution this critical power project of the
MCPP, Kibo has assembled a team of international team of advisors
and partners including Engineering Procurement and Construction
('EPC') contractors and financial teams that are assisting in the
development of. These include ABSA/Barclays as Financial Advisor,
China based EPC contractor SEPCO III, General Electric, Tractebel
Engineering (Power), Minxcon Consulting (Mining) and legal advisors
Norton Rose Fulbright.
Kibo also holds the Haneti Project on which the latest technical
report confirms prospectivity for nickel, PGMs, gold and strategic
metals including lithium and Rare Earth Elements.
Kibo Mining's projects are located in central Tanzania and in
the Mtwara Corridor in southern Tanzania where the Government has
prioritized infrastructural development attracting significant
recent investment in coal and uranium. The Company has a positive
working relationship with the Tanzanian Government at local,
regional and national levels and works hard to maintain positive
relationships with all communities where company interests are
held. Kibo Mining recognises the potential to enhance the quality
of life and opportunity for Tanzanian citizens through careful
development of its projects.
Johannesburg
31 October 2017
Corporate and Designated Adviser
River Group
This information is provided by RNS
The company news service from the London Stock Exchange
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