Kibo Mining Plc MCPP: Tanzania International Forum for Investments
July 11 2016 - 3:00AM
RNS Non-Regulatory
TIDMKIBO
Kibo Mining Plc
11 July 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")
Mbeya Coal to Power Project: Tanzania International Forum for
Investments
Kibo Mining plc ("Kibo" or the "Company") (AIM: KIBO; AltX:
KBO), the Tanzania focussed mineral exploration and development
company will be attending the Tanzania International Forum for
Investments in Dar Es Salaam on 25 September 2016, originally
scheduled for 12 July 2016.
Participating in the Energy and Power Session, Louis Coetzee
will be speaking alongside Frederick Shindika, CEO of Serenity
Investment Partners, Eng. Felichesmi Mramba Managing Director of
TANESCO and Eng. Boniface Njombe, General Manager of Tanzania
Geothermal Development Company.
Louis Coetzee, CEO of Kibo Mining said: "The energy gap in
Tanzania continues to hinder efforts towards economic
transformation. Kibo's Mbeya Coal to Power Project is a critical
project in the government's plans to close this power deficit,
which is key to Tanzania's future growth.
Rapid progress at the project continues as we work towards first
production in 2019. Strong results from the Definitive Power
Feasibility Study and Definitive Mining Feasibility Study have
confirmed the robust fundamentals of the project. We are now in the
final stages of the Integrated Bankable Feasibility Study and are
working closely with the Tanzania government to finalise the
already approved MOU with TANESCO."
Contacts
+27 (0) 83 2606126 Kibo Mining Chief Executive Officer
Louis Coetzee plc
------------------ ------------------- -------------------- ------------------------
Andreas Lianos +27 (0) 83 4408365 River Group Corporate Adviser
and Designated Adviser
on JSE
------------------ ------------------- -------------------- ------------------------
Jon Belliss +44 (0) 207 382 Beaufort Securities Broker
8300 Limited
------------------ ------------------- -------------------- ------------------------
Oliver Morse +61 8 9480 2500 RFC Ambrian Nominated Adviser
Limited on AIM
------------------ ------------------- -------------------- ------------------------
Daniel Thöle +44 (0) 203 772 Bell Pottinger Investor and Media
/ Anna Legge 2500 Relations
------------------ ------------------- -------------------- ------------------------
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
20(th) 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
11 July 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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