Wrap Text
Mbeya Coal to Power Project – Kibo consolidates Mbeya Coal Deposit
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")
13 January 2016
Mbeya Coal to Power Project - Kibo consolidates Mbeya Coal Deposit
Kibo Mining plc ("Kibo" or the "Company") (AIM: KIBO; AltX: KBO), the Tanzania focussed
mineral exploration and development company, is pleased to announce that three new Prospecting
Licences ("PLs") were issued to its wholly owned subsidiary Rukwa Coal Limited. These newly
issued PLs are contiguous with its existing PL block in southern Tanzania that contains the 109
million tonne Mbeya Coal Mineral Resource (the "Resource"). The Resource underpins the
Company's Mbeya Coal to Power Project ("MCPP"), currently in the final stages of a Bankable
Feasibility Study ("BFS").
The three new PLs, namely, PL 10744/2015, PL 10742/2015 and 10743/2015 are located
immediately north, south and east respectively of the Resource and consolidates the Company's
ground position on and peripheral to the MCPP development area. In the short term these new PLs
will further enhance the BFS and subsequent development of the project and in the longer term
provides the company with significantly increased exploration potential. The new prospecting
licenses will provide the Company with the ability to test for extensions to the Resource and/or the
discovery of additional satellite coal deposits in addition to the existing deposit's 48km strike of
which to date, only approximately 12km have been delineated and stated as a NI 43-101 compliant
resource.
A map showing the current licence status position for the MCPP can be found under the MCPP
project section on the Company's website www.kibomining.com
Louis Coetzee, CEO of Kibo Mining, said: "The addition of these prospecting licences to the
Company's Mbeya portfolio completes an important and very strategic consolidation of the
ground immediately adjacent to its Mbeya Coal Resource. This is of significant strategic
importance as it secures the long term fuel supply to the power station, provides confidence that
the power plant can ultimately be expanded to 1 000MW and allays any fears from long term
investors about possible instability in the long term fuel prices, at which the power station will be
able to procure fuel for the power plant. It also demonstrates the Tanzanian Government's on-
going support for and acknowledgment of the strategic importance of the MCPP."
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
Oliver Morse
+61 8 9480 2500
RFC Ambrian Limited
Nominated Adviser on AIM
Daniel Thšle / Anna Legge
+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. 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 (See Table 1 below), and is developing a 250-350MW mouth-of-mine thermal
power station, the Mbeya Coal to Power Project ("MCPP"), previously called Rukwa Coal to
Power Project ("RCPP"), with an established management team that includes Standard Bank as
Financial Advisor. Kibo is undertaking a Coal Mining Definitive Feasibility Study and a Power
Pre-Feasibility Study for the Mbeya project with an integrated Coal-Power interim study report
to be released in the near term. On 20th April 2015, Kibo signed a Joint Development Agreement
for the completion of the Definitive Feasibility Studies and development of the MCPP with
China based EPC contractor SEPCO III.
The Company also has extensive gold focused interests including Lake Victoria Goldfields and
Morogoro projects. At Lake Victoria, the Company has projects with a 550,000oz JORC
compliant gold Mineral Resource at Imweru Project and a 168,000oz NI 43-101 compliant gold
Mineral Resource at the Lubando Project in which the Company holds a 90% attributable
interest. The Company is currently undertaking a Definitive Feasibility Study on its Imweru
Project.
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 further holds the Pinewood (coal & uranium) project where the company has
entered into a 50/50 Exploration Joint Venture with Metal Tiger plc.
Finally the Company also holds the Morogoro (gold) project where the company has also
entered into a 50/50 Exploration Joint Venture with Metal Tiger plc.
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
Technical data
Mbeya Mineral Resource
Table 1 below presents a table showing the Mineral Resource estimate for the Mbeya Coal Project. The
table is taken from an NI 43 101-Compliant Report by GEMECS (Pty) Ltd dated April 2012.
Table 1
RUKWA COAL RESOURCE SUMMARY- GEMECS (Pty) Ltd
SEAM NI 43-101 IN SITU
SEAM THICKNESS CLASS MILLION TONS
S4 1.14 Indicated 2.17
S3U 2.04 Indicated 6.92
S3L 2.3 Indicated 12.63
S2 3.45 Indicated 23.43
S1U 2.48 Indicated 7.34
S1L 2.92 Indicated 17.4
S0 1.08 Indicated 1.44
Total Indicated Resources 71.34
S4 1.31 Inferred 1.38
S3U 2.24 Inferred 2.94
S3L 2.27 Inferred 3.86
S2 3.42 Inferred 7.94
S1U 2.05 Inferred 6.5
S1L 3.15 Inferred 12.83
S0 1.06 Inferred 2.6
Total Inferred Resources 38.05
TOTAL RESOURCES *109.39
*Kibo holds 100% of the Rukwa Mineral Resource
Review by Qualified Persons
The information in this announcement that relates to the Mbey Coal Mineral Resource is taken from a
report titled "Independent Technical Report for the Mbeya Coal Project, Mbeya Region, United Republic
of Tanzania" dated 19th April 2012 by CD van Niekerk Director and Principal Geologist with the firm
GEMECS (Pty) Ltd. Mr van Niekerk is a Professional Natural Scientist with the South African Council for
Natural Scientific Professions (SACNASP), Registration No. 400066/98 and a Fellow Member of the
Geological Society of South Africa. He has relevant experience and technical qualifications to be a
"Qualified Person" for reporting coal resources to the NI 43-101 Standard
The Company's Exploration Director, Noel O'Keeffe has reviewed the resource reports and the references
to them in this announcement.
Johannesburg
13 January 2016
Corporate and Designated Adviser
River Group
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