KIBO MINING PLC - Mbeya Coal to Power Project (MCPP) - Update

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")

26 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 recent 
announcements (See RNS' of 01 June 2017, 14 June 2017 and 14 July 2017), the Company has 
during the past week concluded a very successful second round of follow-up meetings with 
Government departments and other Tanzanian stakeholders regarding the further development of 
the MCPP.

Whilst completion of the Mbeya Coal special mining right application remains on course, as does 
the environmental certification of the Mbeya Coal Mine and Mbeya Power Plant, the following 
significant milestones were also achieved during the past week:

* Official instruction by the Tanzanian Ministry of Energy and Minerals ("MEM"), to the 
  Company and TANESCO, to prepare a final Memorandum of Understanding that will   govern the further development of the MCPP in general and the Power Purchase 
  Agreement ("PPA") in particular.  The latter is to be submitted to the Attorney General 
  for review within the next ten days, with the Company anticipating receipt of approval 
  sometime thereafter in the absence of any feedback to the contrary;
* On the back of the latest progress made in the further development of the MCPP, several 
  formal expressions of interest were received from internationally recognized 
  infrastructure investors, expressing interest in making equity investments in the MCPP. 

Further high level workshops and meetings will take place over the course of next month as part of 
the ongoing priority development schedule for the MCPP and the Company looks forward to 
updating shareholders in due course.

Louis Coetzee, CEO of Kibo Mining, said: "We are very pleased with progress on the MCPP 
over the past six weeks and particularly pleased with the significant increase in momentum over 
the past three weeks. Development of the MCPP is currently advancing on all levels and we are 
optimistic that this trend will persist going forward.

We will continue to keep the market updated".  

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 Pottinger
Investor 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  
26 July 2017
Corporate and Designated Adviser 
River Group







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