KIBO MINING PLC - Kibo Announces Commencement of Rukwa Coal to Power Project (RCPP) Definitive Mining Feasibility Study

Kibo Announces Commencement of Rukwa Coal to Power Project (“RCPP”) Definitive Mining Feasibility Study

 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:IE00B61XQX41
 (“Kibo” or “the Company”)


 29 July 2014



Kibo Announces Commencement of Rukwa Coal to Power Project (“RCPP”) Definitive
Mining Feasibility Study


      * Kibo appoints Minxcon Projects to conduct RCPP definitive mining feasibility study
      (“DMFS”)

      * RCPP DMFS to commence immediately with Stage 1

      * Stage 1 of DMFS to be completed by November 2014.

      * Integrated RCPP feasibility study commences simultaneously

      * In principle agreement on Joint Development Partnership for RCPP

Kibo Mining plc (“Kibo” or the “Company”) (AIM: KIBO; AltX: KBO), the Tanzania focussed
mineral exploration and development company is pleased to announce that it has appointed Minxcon
Projects (www.minxcon.co.za), to conduct a DMFS for the RCPP coal mine, thereby officially
commencing with the RCPP integrated feasibility study, which will cover development of both the coal
mine and co-located thermal power plant. Stage 1 of the DMFS is expected to be completed by November
2014. Stage 1 will cover the conventional pre-feasibility elements associated with a coal mine feasibility
study, as well as assessing certain key mining parameters required for the planning of the definitive
feasibility study on the Rukwa power plant. The integrated RCPP feasibility study involves the sequential
implementation, parallel execution and subsequent integration of the DMFS and definitive power
feasibility study (“DPFS”). As part of Stage 1 of the DMFS, the Rukwa Executive Management Team
will, over the next four months, also settle the heads of terms for the following key commercial
agreements in the RCPP:
        * Power Purchase Agreement
        * Coal Sale Agreement
        * Grid Connection Agreement
During the past month the Company also reached an in principle agreement on the definitive terms and
conditions for a joint development partnership in the RCPP. The Company however decided to defer
signing of the joint development agreement until completion of Stage 1 of the DMFS. Upon completion
of Stage 1 of the DMFS, which will amongst others assess most of the key commercial assumptions in the
RCPP, the Company expects to conclude the joint development agreement on more favourable
commercial terms. Given these developments and the advanced status of the RCPP, Minxcon have agreed
to conduct Stage 1 of the MPFS on a contingency arrangement with the Company.


 Louis Coetzee, CEO of Kibo Mining, said: “We are pleased with the latest progress on the RCPP.
 An enormous amount of hard work was done on the RCPP over the past months and with the official
 commencement of the integrated RCPP feasibility study covering both the mine and the power station,
 the project is now poised to rapidly accelerate. Kibo remains focussed on finalizing a partnership
 agreement to advance development of the project and the commencement of the DMFS will generate
 significant forward momentum in the coming months.”

 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) 20 3693 1470      Hume Capital        Broker
 Abigail Wayne                                   Securities Plc
 Oliver Morse          +61 8 94802500            RFC Ambrian         Nominated Adviser on AIM
                                                 Limited
 Daniel Thöle          +44 (0) 207 8611606       Bell Pottinger      Investor and Media Relations
 Lydia Eades           +44 (0) 207 8613126


 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 Rukwa, which has a significant JORC compliant
 defined resource, and is developing a 250-350MW mouth-of-mine thermal power station with
 an established management team that includes Standard Bank as Financial Advisor.


 Kibo also holds the Haneti Licence on which the latest technical report confirms prospectivity
 for nickel, PGMs, gold and strategic metals.
The Company also has extensive gold focused interests including Lake Victoria Goldfields and
Morogoro projects. At Lake Victoria, the Company has projects with a substantial existing
JORC compliant gold resource and is seeking to materially increase this resource through
exploration of known extensions to existing mineralisation.


Kibo Mining also holds the Pinewood (coal & uranium) projects.


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 prioritised 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 recognises 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
29 July 2014
Corporate and Designated Adviser
River Group

Date: 29/07/2014 09:00:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE'). 
The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of
 the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct, 
indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on,
 information disseminated through SENS.