Wrap Text
Commencement of Accelerated Rukwa Coal to Power Project - Power Pre-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”)
10 November 2014
Commencement of Accelerated Rukwa Coal to Power Project - Power Pre-Feasibility Study
* Accelerated progression of Study work to develop Rukwa Power Plant;
* Kibo appoints Aurecon to conduct Power Pre-Feasibility Study ; and
* Power Pre-Feasibility Study to commence immediately with the full Study to be
completed by early December 2014.
Louis Coetzee, CEO of Kibo Mining, said: “We are exceptionally pleased with the acceleration of
this Study and the appointment of Aurecon. Following their appointment Aurecon undertook a review
of historically gathered information and the comprehensive nature of the data available enabled them
to commit to delivery of the full Prefeasibility Study in early December 2014. This accelerated delivery
matches our desire to progress the Rukwa Coal to Power project on an expeditious timetable and
further supports the veracity and value of the project in the face of finalisation of discussions with
strategic project partners.”
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 Aurecon
(www.aurecongroup.com) to conduct a Pre-Feasibility Study (“PPFS”) on the Rukwa Coal to Power
Project (“RCPP”) 300MW power plant.
Commencement of the PPFS is a very important milestone in the RCPP as it marks the stage where
feasibility work has progressed sufficiently to allow the integrated feasibility study, i.e. mining and
power, to henceforth continue concurrently.
The PPFS will cover the conventional pre-feasibility elements associated with a power plant feasibility
study, as well as assessing certain key parameters required for planning of the definitive power feasibility
study on the Rukwa power plant.
About Aurecon
Aurecon has a long South African and Sub-Saharan Africa presence, and extensive relevant
experience t o a p p l y t o the RCPP (mine mouth power plant). Aurecon’s recent clients
include, amongst others, Rio Tinto (1,200MW Benga coal), Vale (Moatize coal mine
infrastructure), S o u t h e r n E n e r g y (Namiba 250MW IPP power plant), Botswana
Ministry of Minerals, Energy Water Resources (300MW coal at Morupule IPP) and the
World Bank (600MW Coal, Morupule B).
Aurecon has a strong track record in Tanzania w h i c h spans energy and infrastructure
projects accordingly and they have permanent facilities in Dar es Salaam and hence access to
valuable on-the-ground information at all levels of government and the private sector.
Aurecon has significant experience of working with TANESCO and the power system in-
country, both from their previous engagement as utility manager and also recent projects and
cross-border studies in the region.
Aurecon’s purely technical experience in coal fired power plants is substantial, t h e y have
studied, designed, built, operated and maintained more than 60,000MW of projects
predominantly in Australia, SE Asia and Africa. Senior technical resources utilised for these
projects are largely retained by Aurecon, primarily on account of their 100% employee
ownership model.
The value proposition to Kibo goes further than pure engineering and project management
and indeed beyond PFS. The power generation resources based in South Africa who will
execute the PPFS are also proficient in private sector / IPP project finalisation (to financial
close and beyond). They also act as technical advisor to government, IPPs and Lenders
alike for key project agreements such as EPC, O&M, PPA, CSA, concessionary agreements,
generation licences, connection agreements and environmental authorisations. This service
offering is in-house to Aurecon, and at Kibo’s “doorstep” for utilisation.
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) 203 772 2500 Bell Pottinger Investor and Media Relations
Lydia Eades +44 (0) 203 772 2500
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
10 November 2014
Corporate and Designated Adviser
River Group
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