Kibo Mining Plc Letter of Engagement with Norton Rose Fulbright
August 17 2016 - 3:00AM
RNS Non-Regulatory
TIDMKIBO
Kibo Mining Plc
17 August 2016
Kibo Mining Plc (Incorporated in Ireland)
(Registration Number: 451931)
(External registration number: 2011/007371/10)
Share code on the JSE Limited: KBO
Share code on the AIM: KIBO
ISIN:IE00B97C0C31
("Kibo" or "the Company")
17 August 2016
Kibo Signs Letter of Engagement with global law firm Norton Rose
Fulbright
Kibo Mining plc ("Kibo" or the "Company") (AIM: KIBO; AltX:
KBO), the Tanzania focused mineral exploration and development
Company is pleased to announce that it has signed an Engagement
Letter (the "Letter") with global law firm Norton Rose Fulbright to
provide it with legal services in regard to the development of its
Mbeya Coal to Power Project in Tanzania. The Letter outlines the
terms and conditions under which Norton Rose Fulbright will assist
the Company with the preparation and negotiation of commercial
arrangements and agreements pertaining to the MCPP Power Purchase
Agreement ("PPA"), with the Tanzanian Government and TANESCO
(Tanzania's parastatal power distribution company).
Norton Rose Fulbright is a global law firm with offices in over
50 cities across Europe, the United States, Canada, Latin America,
Asia, Australia, Africa, the Middle East and Central Asia. Its
clients include major global corporations and financial
institutions and it has a strong reputation and experience across
energy infrastructure, mining and commodities. The firm advises on
major energy projects in Africa and is ideally placed to assist
Kibo at this critical stage in the development of the MCPP.
Louis Coetzee, CEO of Kibo Mining, said: "The signing of the
engagement Letter with Norton Rose Fulbright is a critical
appointment in this advanced development stage of the MCPP, where
we seek to negotiate and finalize a PPA with the Tanzanian
Government. Significant progress has been made in this area and the
appointment of Norton Rose Fulbright will add critical momentum to
our initiatives in this regard."
Contacts
Louis Coetzee +27 (0) 83 2606126 Kibo Mining plc Chief Executive Officer
--------------------- ---------------------- --------------------- --------------------------------
Andreas Lianos +27 (0) 83 4408365 River Group Corporate Adviser and
Designated Adviser on
JSE
--------------------- ---------------------- --------------------- --------------------------------
Jon Belliss +44 (0) 207 382 Beaufort Securities Broker
Limited
8300
--------------------- ---------------------- --------------------- --------------------------------
Oliver Morse +61 8 9480 2500 RFC Ambrian Nominated Adviser on
Limited AIM
--------------------- ---------------------- --------------------- --------------------------------
Daniel Thöle +44 (0) 203 772 Bell Pottinger Investor and Media Relations
/
Anna Legge 2500
--------------------- ---------------------- --------------------- --------------------------------
Kibo Mining - Notes to editors
Kibo Mining is listed on the AIM market in London and the AltX
in Johannesburg. The Company is focused on exploration and
development of mineral projects in Tanzania, and controls one of
Tanzania's largest mineral right portfolios. Tanzania provides a
secure and stable operating environment for the mineral resource
industry and Kibo Mining therein.
Kibo Mining holds a thermal coal deposit at Mbeya, which has a
significant NI 43-101 compliant defined resource, and is developing
a 250-350 MW mouth-of-mine thermal power station, the Mbeya Coal to
Power Project ("MCPP"), previously called Rukwa Coal to Power
Project ("RCPP"), with an established management team that includes
Standard Bank as Financial Advisor. Kibo is undertaking a Coal
Mining Definitive Feasibility Study and a Power Pre- Feasibility
Study for the Mbeya project with an integrated Bankable Feasibility
Study report for the MCPP to be released in the near term. On 20th
April 2015, Kibo signed a Joint Development Agreement for the
completion of the Definitive Feasibility Studies and development of
the MCPP with China based EPC contractor SEPCO III.
The Company also has extensive gold focused interests including
Lake Victoria Goldfields and Morogoro projects. At Lake Victoria,
the Company has 100% owned projects with a 550,000 oz. JORC
compliant gold Mineral Resource at the Imweru Project and a 168,000
oz. NI 43-101 compliant gold Mineral Resource at the Lubando
Project. The Company is currently undertaking a Definitive
Feasibility Study on its Imweru Project.
Kibo also holds the Haneti Project on which the latest technical
report confirms prospectivity for nickel, PGMs, gold and strategic
metals including lithium.
Kibo Mining further holds the Pinewood (coal & uranium)
project where the company has entered into a 50/50 Exploration
Joint Venture with Metal Tiger plc.
Finally, the Company also holds the Morogoro (gold) project
where the company has also entered into a 50/50 Exploration Joint
Venture with Metal Tiger plc.
The Company's projects are located in the established and gold
prolific Lake Victoria Goldfields, the emerging goldfields of
eastern Tanzania and 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. The Company recognizes the potential to enhance
the quality of life and opportunity for Tanzanian citizens through
careful development of its projects.
Updates on the Company's activities are regularly posted on its
website www.kibomining.com
Johannesburg
17 August 2016
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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