Kibo Mining Plc MCPP Successfully Completes Phase 1 of ESIA Study (6501Y)
May 19 2016 - 3:00AM
UK Regulatory
TIDMKIBO
RNS Number : 6501Y
Kibo Mining Plc
19 May 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")
19 May 2016
Mbeya Coal to Power Project Successfully Completes Phase 1 of
Environmental and Social Impact Study
Kibo Mining plc ("Kibo" or the "Company") (AIM: KIBO; AltX:
KBO), the Tanzania focused mineral exploration and development
company is pleased to announce that Phase 1 of the Mbeya Coal to
Power Project ("MCPP") Environmental and Social Impact Assessment
("ESIA") was successfully completed upon receiving notice from the
Tanzanian Government that the ESIA studies for the Mbeya Coal Mine
and Mbeya Power Plant have both been accepted and officially
registered.
Environmental Certification for the MCPP requires that the
Mining and Power components must be registered as separate ESIA's,
whilst successful registration requires the submission of a
comprehensive project specific ESIA brief and official registration
documentation. Successful registration is in turn dependent on the
applicant's ability to demonstrate a comprehensive understanding
and insight into all the project specific and general environmental
issues that will and could have an environmental impact, as per the
Tanzanian EIA and Audit Regulations and guidelines. Following a
review of the submitted ESIA briefs and registration documents, the
National Environmental Management Council ("NEMC") reached a
decision that the MCPP-application (Mining and Power) met with all
the required criteria for registration and acceptance and may
continue with the rest of the assessment. Phase 2 of the ESIA has
already commenced, with most of the specialist studies that are
required for Phase 2 nearing completion.
Louis Coetzee, CEO of Kibo Mining plc said "We are very pleased
with progress on the ESIA and particularly with the fact that the
registration was accepted at the first attempt. ESIA registrations
frequently fail on the first attempt and can become a significant
delay factor. Our strong and cooperative relationship with the
Tanzanian government coupled with our understanding of the process
has enabled us to expedite this stage of the project. We have
already commenced preparatory work for Phase 2 ahead of submitting
the final ESIA to the NEMC. The ESIA is the third key component,
alongside the Mining and Power Definitive Feasibility Studies, for
the Integrated Bankable Feasibility Study."
Contacts
+27 (0) 83 Kibo Mining Chief Executive
Louis Coetzee 2606126 plc Officer
------------------------------ ------------------ -------------------- ---------------------------
Corporate Adviser
Andreas Lianos +27 (0) 83 River Group and
4408365
Designated Adviser
on JSE
------------------------------ ------------------ -------------------- ---------------------------
Beaufort
Jon Belliss +44 (0) 207 Broker
382 8300 Securities
Limited
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RFC Ambrian
Oliver Morse +61 8 9480 Nominated Adviser
2500 Limited on AIM
------------------------------ ------------------ -------------------- ---------------------------
Daniel Thöle +44 (0) 203
/ Anna 772 2500 Bell Pottinger Investor and Media
Relations
Legge
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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 Mbeya Coal to Power
Project ("MCPP"), 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 projects with a 550,000 oz. JORC compliant gold
Mineral Resource at Imweru Project and a 168,000 oz. NI 43-101
compliant gold Mineral Resource at the Lubando Project in which the
Company holds a 90% attributable interest. 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
19 May 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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