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Mbeya Coal to Power Project 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”)
15 February 2017
Mbeya Coal to Power Project 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 all work for the
Environmental and Social Impact Assessment (“ESIA”) has been completed and that the Company
is now awaiting certification.
Following recent enquiries from shareholders, the Company has also prepared a Q & A which seeks
to respond to these questions. The Q & A can be viewed at the following link: Shareholder Q & A
Louis Coetzee, CEO of Kibo Mining, said: “Completion of all the ESIA work marks another major
step forward in the development of the MCPP, which has now reached a very advanced stage of
development and is continuously gaining in momentum.”
Contacts
Louis Coetzee +27 (0) 83 2606126 Kibo Mining plc Chief Executive Officer
Andreas +27 (0) 83 4408365 River Group Corporate Adviser and
Lianos 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 on AIM
Limited
Liz Morley / +44 (0) 203 772 Investor and Media
Anna Legge 2500 Bell Pottinger 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 Rukwa Coal to Power Project
(“RCPP”), with an established management team that includes ABSA / Barclays 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 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
The Company also has extensive gold focused interests including Lake Victoria Goldfields and
Morogoro projects. At Lake Victoria, the Company has 100% owned projects with a 550,000 oz.
JORC compliant gold Mineral Resource at the Imweru Project and a 168,000 oz. NI 43-101
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.
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
15 February 2017
Corporate and Designated Adviser
River Group
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