Kibo Mining Plc MCPP Delivers First Classrooms
March 06 2017 - 9:15AM
RNS Non-Regulatory
TIDMKIBO
Kibo Mining Plc
06 March 2017
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")
06 March 2017
Mbeya Coal to Power Project Delivers First Classrooms as Part of
Long Term Education Strategy in Songwe Region
Kibo Mining plc ("Kibo" or the "Company") (AIM: KIBO; AltX:
KBO), the Tanzania focused mineral exploration and development
company, is pleased to announce that on Friday, 3 March 2017, the
CEO of Kibo Mining PLC ("Kibo"), officially unveiled and handed
over two newly built classrooms to the Regional Commissioner of
Songwe, Tanzania.
The classrooms are part of an ongoing joint programme by Kibo
and the towns of Meheza and Namkukwe, directly North - east of the
Mbeya Coal to Power Project ("MCPP") in the Songwe Region in South
Western Tanzania, to extend and refurbish the local schools at the
respective towns.
While addressing the assembled communities of Meheza and
Namkukwe during the unveiling ceremony, Mr. Coetzee stressed the
critical importance of education, which is the only foundation on
which long term sustainable development can be based. He further
stressed the important role the MCPP should and can play as a major
enabler in the development of the Tanzanian economy and more
specifically of the Songwe region.
The MCPP will, during construction and later during production,
provide a significant number of direct and indirect job
opportunities and will primarily be looking at the Songwe region to
provide in said labour requirements. To ensure that this is
achieved and sustained over the long term, significant investment
in quality education and education infrastructure will be required.
To this effect, the Meheza and Namkukwe communities, of which Kibo
is a proud member, has developed a long term education strategy
that will improve and expand local education and education
infrastructure, to ensure that future education is delivered at the
qualitative and quantitative standards that will be required in a
fast growing regional and national economy. Building the classrooms
at Meheza and Namkukwe was the first tangible delivery towards
successful implementation of this education strategy.
Whilst welcoming Kibo into the communities of Namkukwe and
Meheza, Songwe Regional Commissioner Chiku Gallawa urged Meheza and
Namkukwe to embrace and support the project as a unique opportunity
to take responsibility and ownership of shaping their future. She
further stressed the importance of the project, not only for the
development of the Songwe region but also for the National
Tanzanian economy.
For photo coverage of the unveiling ceremony and building
process of the classrooms, please access the following link:
http://kibomining.com/projects/mbeya-coal/ .
Contacts
+27 (0) 83 Kibo Mining Chief Executive
Louis Coetzee 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
---------------- ------------ --------------- -------------------
Oliver Morse +61 8 9480 RFC Ambrian Nominated Adviser
2500 Limited on AIM
---------------- ------------ --------------- -------------------
Liz Morely +44 (0) 203 Bell Pottinger Investor and Media
/ Anna Legge 772 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 43-101compliant defined resource, and is developing
a 250-350 MW mouth-of-mine thermal power station, the Mbeya Coal to
Power Project ("MCPP"), previously called the Rukwa Coal to Power
Project ("RCPP"), with an established management team that includes
ABSA / Barclays as Financial Advisor. Kibo has completed a Coal
Mining Definitive Feasibility Study and a Power Pre- Feasibility
Study for the Mbeya project and has recently announced the
completion of an Integrated Bankable Feasibility Study report for
the project. On 25 August 2016, Kibo signed an Agreement with China
based EPC contractor SEPCO III granting it the right to become the
sole bidder for the EPC contract to build the power plant component
of the MCPP in exchange for SEPCO III refunding 50% of the
development costs incurred by Kibo to date on the project. Kibo has
already received the first tranche of this funding in the amount of
US$1.8 million on the 5(th) September 2016 and signed an EPC
contract with SEPCO III on the 19(th) December 2016.
The Company also has extensive gold focused interests in Lake
Victoria Goldfields of northern Tanzania, including 100% owned
projects with a 515,000 oz. JORC compliant gold Mineral Resource at
the Imweru Project and a 240,000 oz. JORC 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.
The Company's projects are located in the established and gold
prolific Lake Victoria Goldfields 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
06 March 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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