KIBO MINING PLC - Mbeya Coal to Power Project MOU Update

Mbeya Coal to Power Project MOU Update

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')

Dated: 5 January 2018

Kibo Mining Plc ('Kibo' or the 'Company')
Mbeya Coal to Power Project MOU Update

Kibo Mining Plc (AIM:KIBO; AltX:KBO), the multi-asset African focused energy and resource company, is 
pleased to confirm that further to the meetings held with the Ministry of Energy ('ME') in late December 
2017, the ME has called a meeting on Monday 8 January with Kibo and the Tanzania Electric Supply 
Company ('TANESCO') to finalise the Mbeya Coal to Power Project ('MCPP') MOU; accordingly, the 
Company remains optimistic that the MOU will be completed as announced on 18 December 2017.  It 
should be noted that the Tanzanian holidays differ from the UK, with fewer 'working days' over the 
Christmas period.  

The Company had arranged to present at a Proactive Event in London on 11 January 2018, however, the 
meeting with the ME has taken precedence and accordingly Kibo has postponed its attendance at the event.  

Kibo's CEO, Louis Coetzee, said: "Given the continued urgency by the ME to fast-track the MCPP as the 
Tanzanian Government focuses on delivering 5GW installed generation capacity by 2020 with a further 
7GW to be added in the following five years, we remain optimistic for 2018.  During the year, we anticipate 
hitting various value trigger points regarding the MCPP including the completion of the MOU and the final 
Power Purchase Agreement during Q1, and look forward to building Kibo as a strategic regional electricity 
supplier."
**ENDS**
 
For further information please visit www.kibomining.com or contact:
 
 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
                   8300                   Limited
                                                      
 Andrew Thomson    +61 8 9480 2500        RFC Ambrian               Nominated Adviser
                                          Limited                   on AIM
 Isabel de Salis / +44 (0) 207 2361177    St Brides Partners        Investor and Media 
  Priit  Piip                             Ltd                       Relations Adviser
       


This announcement contains inside information as stipulated under the Market Abuse Regulations
(EU) no. 596/2014 ("MAR").

Notes to editors
The Mbeya Coal to Power Project ('MCPP'), 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 that has been completed, 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 potential 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.

Johannesburg
05 January 2018
Corporate and Designated Adviser
River Group






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