Sharenet Sites 
Sharenet Sites
MOU Signed with Korean East West Power
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”)
Dated: 18 July 2013
MOU Signed with Korean East West Power
Kibo Mining plc (“Kibo” or the “Company”) (AIM: KIBO), (JSE: KBO), the Tanzania
focused mineral exploration and development company, is pleased to announce that it has
signed a Memorandum of Understanding (MOU) with Korean East-West Power Co. Ltd
(“EWP”) on the Rukwa Coal to Power Project.
This follows the Company’s announcement of the 24th April 2013 on the selection of EWP as
its preferred strategic partner to jointly develop a 300-350 megawatt mouth-of-mine thermal
coal plant based on its Rukwa coal deposit in southern Tanzania. The MOU provides for the
general terms of the partnership including terms on the scope of co-operation, sharing of
information and confidentiality. This MOU is a major step towards finalizing the formal joint
venture agreement between the parties which is scheduled to be completed following a site
visit and technical due diligence by EWP at the beginning of August 2013.
EWP is a global power producer owned by the Korean Government and it currently owns and
operates power plants in Korea with a total generation capacity of 8,816 megawatts. EWP has
extensive experience and expertise in the power generation business and is currently also
actively engaged in developing and operating power plants in more than 10 countries
including the United States of America, Indonesia, the Philippines and Vietnam.
Louis Coetzee, Chief Executive Officer of the Company commented:
“We are extremely pleased to progress Kibo’s relationship with EWP. This is the result of
positive talks with the company in Korea at the end of June and is a further endorsement of
the Rukwa Coal to Power Project following its inclusion in the Tanzanian Government’s
National Energy Strategy. We are looking forward to hosting EWP on a site visit to Rukwa
within the next few weeks and hope to finalize the Joint Venture shortly afterwards.”
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 3216 2630 XCAP Broker
Stuart Laing +61 8 94802500 RFC Ambrian Nominated Adviser on AIM
Limited
Matt Beale +44 (0)7966 389196 Fortbridge Investor Relations
Updates on the Company’s activities are regularly posted on its website
www.kibomining.com
General Background & Strategy
Kibo was established in early 2008 to explore and develop mineral deposits in Tanzania, East
Africa and was admitted to AIM in London on 27 April 2010 and AltX in Johannesburg on
30 May 2011. The Board of Kibo is composed of professionals whose experience include
mineral exploration, mine development, mining finance, tax, law, mergers and acquisitions,
and financial control of public companies. It is supported by a competent and motivated
Tanzanian staff that operates from Kibo's operations office in Dar es Salaam.
The mineral assets of the Company comprise five projects areas in Tanzania - Haneti (nickel,
PGE and gold), Morogoro (Gold), Lake Victoria (Gold), Rukwa (Coal) and Pinewood (Coal
& Uranium).
The Haneti project is the subject of a joint venture with Brazilian Votorantim Metais
Participações Ltda, a member of Votorantim Group. The Rukwa and Pinewood projects are
situated close to the Mtwara Corridor, an area where the Tanzanian Government has
committed to significant infrastructure development and which has seen recent multi-million
dollar investment in coal and coal-fired power stations and uranium exploration.
The Rukwa project is substantially more advanced than Kibo’s existing exploration projects,
with a significant Mineral Resource of thermal coal already defined. The project enjoys
strong support expressed by the Tanzanian Government for the expedited development of a
coal mine and mine-mouth coal-fired power plant and which is further enhanced by the now
formal relationship between the Korean Government owned Korean East – West Power Co.
Ltd. (“EWP”) and Kibo. In this relationship the parties have entered into a formal MOU
which states the parties’ respective commitments towards the joint development of the
Rukwa Coal to Power Project (“RCPP”), where EWP will be responsible for developing and
operating the power generation side of the RCPP and Kibo will be responsible for developing
and operating the mining side of the RCPP.
Kibo's objective is to build shareholder value in a sustainable manner. This objective will be
pursued primarily through active exploration of its own projects and by using the Company's
experience in Tanzania to acquire attractive exploration and development assets on
competitive terms that can be moved swiftly up the value curve by using the Company’s own
skills base whilst also seeking to benefit from strategic collaborative relationships with
industry leaders who have special skills and competencies within their chosen fields of focus.
Kibo will undertake continual risk assessment of its projects and take whatever actions it
believes are necessary to ensure that these risks are mitigated.
Johannesburg
18 July 2013
River Group
Corporate and Designated Adviser
River Group
Date: 18/07/2013 08:00:00 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.
