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Mbeya Coal to Power Project (“MCPP”) - 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: IE00B97C031
(“Kibo” or “the Company”)
14 July 2017
Mbeya Coal to Power Project (“MCPP”) - Update
Kibo Mining plc ("Kibo" or the "Company") (AIM: KIBO; AltX: KBO), the Tanzania focused
mineral exploration and development Company, is pleased to announce that, following a week of
follow-up meetings with Government departments and other Tanzanian stakeholders regarding the
further development of the MCPP, there is no identified adverse impact on the further development
of the MCPP as a result of recent changes in the legislative environment. Further, on the basis of
these discussions the Company does not anticipate any future adverse impact on the development
of the MCPP, however the Company will be diligently reviewing its position on this matter going
forward.
Kibo reiterates that the completion of the Mbeya Coal special mining right application remains on
schedule as does the environmental certification of the Mbeya Coal Mine and Mbeya Power Plant.
Further high level workshops and meetings will take place in the course of next week as part of the
recently announced priority development schedule for the MCPP and the Company looks forward
to updating shareholders in due course.
Louis Coetzee, CEO of Kibo Mining, said: “As far as continued progress in the development of
the MCPP is concerned, we have not seen any slowdown or hesitation from the Tanzanian
government or regulatory authorities as a result of the recent legislative changes. As stated before
it is business as usual for Kibo, while we continue to study the latest amendments to the mining act
to understand any possible impact these may have on Kibo and its projects
We will continue to keep the market updated”.
Contacts
Louis Coetzee +27 (0) 83 2606126 Kibo Mining plc Chief Executive Officer
Andreas Corporate Adviser and
+27 (0) 83 4408365 River Group
Lianos Designated Adviser on JSE
+44 (0) 207 382 Beaufort Securities
Jon Belliss Broker
8300 Limited
Andrew RFC Ambrian Nominated Adviser
+61 8 9480 2500
Thomson Limited on AIM
Liz Morley / +44 (0) 203 772 Investor and Media
Bell Pottinger
Molly Stewart 2500 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 July 2017
Corporate and Designated Adviser
River Group
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