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Mbeya Coal to Power Project (“MCPP”) Finalizes Transmission Line Bid
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”)
29 August 2017
Mbeya Coal to Power Project (“MCPP”) Finalizes Transmission Line Bid
Kibo Mining plc ("Kibo" or the "Company") (AIM: KIBO; AltX: KBO), the Tanzania focused
mineral exploration and development Company, is pleased to announce that the Company has over
the past week concluded the final bid clarification with regard to the construction of the transmission
line that will evacuate power from the Mbeya Power Plant in the Songwe District to the TANESCO
Mbeya sub-station.
The Engineering, Procurement and Construction (“EPC”) (Power) contractual work was divided
into two lots, i.e. Lot 1, the Power Station EPC contract, and Lot 2, the Power Line Construction
EPC contract. Lot 1 was awarded conditionally to SEPCO III during December 2016 with Lot 2 to
be finalised subject to concluding a comprehensive line study. Following completion of various
technical studies related to the transmission line, most notably an in–country line reconnaissance
and survey by a combined Tractebel Engineering and SEPCO III team, a final bid was prepared and
submitted to the Company by SEPCO III. Kibo Mining and Tractebel Engineering conducted and
concluded a clarification workshop regarding the aforementioned final bid with the SEPCO III
technical team on 21 and 22 August 2017 in Beijing, China. The purpose of the clarification
workshop was to finalise the technical component of the Power Line Construction EPC contract
which is to be awarded to SEPCO III as an integral part of the Power Station EPC contract, subject
to final technical, financial and operational benchmarking that will be conducted by Tractebel
Engineering over the course of the next month.
Louis Coetzee, CEO of Kibo Mining, said: “Finalization of the transmission line bid concludes all
technical development work on the MCPP prior to financial close. The Company is also continuing
to make significant progress on the remaining work streams it has reported on over the past two
months, with further updates to follow in this regard.”.
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 Beaufort Securities Broker
8300 Limited
Andrew Thomson +61 8 9480 2500 RFC Ambrian Nominated Adviser
Limited on AIM
Liz Morley / +44 (0) 203 772 Bell Pottinger Investor and Media
Molly Steward 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
29 August 2017
Corporate and Designated Adviser
River Group
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