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Accelerated Development of MCPP Significant Momentum from Latest Follow-up Discussions with Tanzanian Stakeholders
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: IE00B97C031
("Kibo" or "the Company")
14 June 2017
Accelerated Development of Mbeya Coal to Power Project ("MCPP") Gains Significant
Momentum from Latest Follow-up Discussions with Tanzanian Stakeholders
Kibo Mining plc ("Kibo" or the "Company") (AIM: KIBO; AltX: KBO), the Tanzania focused
mineral exploration and development Company, is pleased to announce that a series of meetings,
held with the key Tanzanian stakeholders in the MCPP resulted in significant progress for the
further development of the Project.
The recent request for an expedited development of the MCPP (See RNS of 01 June 2017) was
followed by active interaction between all stakeholders in the MCPP, which culminated in a series
of progress meetings held on the 12th and 13th June 2017. The following key points emanated from
said meetings:
1. A clear agenda and associated schedule has been agreed with relevant Government
stakeholders to work on those specific development aspects of the MCPP that are
dependent on negotiating, agreeing and concluding agreements / approvals with the
Tanzanian Government;
2. The Environmental and Social Impact Assessment ("ESIA") submissions for the Mbeya
coal mine and Mbeya Power station have been duly processed for certification, pending a
final review and verification of recommendations, with the final review in an advanced
stage of completion;
3. The special mining licence ("SML") application for the Mbeya coal mine has been
processed in its entirety and is now awaiting final approval, pending environmental
certification;
4. Engagement with the Ministry of Energy and Minerals ("MEM") on the latest
developments in relation to possible further changes in mining policies and the Mining Act
has reconfirmed that the Company's operations are not affected by the current debate on
mining policies and the Mining Act.
Louis Coetzee, CEO of Kibo Mining, said: "Over the past two weeks we have seen strong and
committed engagement from all the Tanzanian stakeholders towards moving the MCPP
development process forward and the progress meetings on 12 and 13 June underscored this.
From these meetings we have also developed a far better appreciation of the reasons for the
perceived slow processing of the SML application and environmental certification. It is evident
that the relevant departments concerned with the processing of these applications have taken a
very diligent and pro-active approach given the integrated nature of the MCPP. This approach,
albeit somewhat slower, not only avoided unnecessary and lengthy delays but also brought about
significant cost savings for the Company. Both processes are now very near completion and
pending finalization of the last few actions, will be concluded shortly.
We have also had very open and frank discussion with the MEM on the ongoing public discourse
in relation to possible further policy and legislative changes concerning the mining industry and
we are happy to confirm that our official position in this regard remains unchanged and we
believe that the proposed changes and adjustments will in general contribute to a stronger and
very robust mining industry in Tanzania going forward."
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 8300
Beaufort Securities Limited
Broker
Andrew Thomson
+61 8 9480 2500
RFC Ambrian Limited
Nominated Adviser on AIM
Liz Morley / Molly Stewart
+44 (0) 203 772 2500
Bell PottingerInvestor and Media Relations
Kibo Mining - Notes to editors
Kibo Mining is listed on the AIM market in London and the AltX in Johannesburg. Kibo
Mining is focused on exploration and development of mineral projects in Tanzania, and
controls a large mineral rights portfolio in Tanzania. 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 5th
September 2016 and signed an EPC contract with SEPCO III on the 19th December 2016.
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's projects are located in central Tanzania and in the Mtwara Corridor in southern
Tanzania where the Government has prioritized infrastructural development attracting
significant recent investment in coal and uranium. Kibo Mining 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.
Kibo Mining recognizes the potential to enhance the quality of life and opportunity for
Tanzanian citizens through careful development of its projects.
Updates on the Kibo Mining's activities are regularly posted on its website www.kibomining.com.
This announcement contains inside information as stipulated under the Market Abuse Regulations
(EU) no. 596/2014 ("MAR").
Johannesburg
14 June 2017
Corporate and Designated Adviser
River Group
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