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MCPP: O&M Expression of Interest for Mbeya Power Plant
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:IE00B97C0C31
(“Kibo” or “the Company”)
20 July 2016
MCPP: O&M Expression of Interest for Mbeya Power Plant
Kibo Mining plc (“Kibo” or the “Company”) (AIM: KIBO; AltX: KBO), the Tanzania focused mineral exploration
and development Company is pleased to announce another milestone in the progress of the Mbeya Coal to Power
Project (“MCPP”) following the finalization of an Expression of Interest process, focused on developing the
Operations and Maintenance (O&M) Agreement for the Mbeya Power Plant.
In order to assess the appetite of the market for operation and maintenance services to the 2x150MW Coal Fired
Power Plant as part of the MCPP, a Request for Expression of Interest (REOI) was recently launched. The REOI
was sent to a number of pre-selected leading service providers in the O&M third party market, on the basis of their
established international track record as third party O&M service providers for coal fired power plants.
The REOI received positive expressions of interest from 90% of the companies approached, with one company
declining the opportunity on the basis of capacity constraints. This constitutes a positive reaction from the market
and indicates strong confidence in the project.
Louis Coetzee, CEO of Kibo Mining, said: “The further development of the Mbeya Power Station, post – DPFS,
involves the parallel development and finalization of the EPC and O&M contractual arrangements. We are delighted
to note that the response to our invitation for expressions of interest, from leading international O & M providers,
indicated a strong market interest in the MCPP, but also confirmed the robustness of the project based on the
willingness of prospective O&M contractors to commit for the entire life of plant i.e. 25 years
As we diligently continue with the last remaining work required to finalize the Integrated Bankable Feasibility for the
MCPP, we are in parallel finalizing the definitive agreement with Lake Victoria Gold Limited (“LVG”) to
amalgamate our Imweru gold project with LVG’s Imvelo gold project. Further progress updates with regard to both
initiatives will follow shortly”
Contacts
+27 (0) 83 2606126 Kibo Mining Chief Executive Officer
Louis Coetzee plc
Corporate Adviser and
Andreas +27 (0) 83 4408365 River Group
Lianos Designated Adviser on JSE
Beaufort
Jon Belliss +44 (0) 207 382 Broker
8300 Securities Limited
RFC Ambrian
Oliver Morse +61 8 9480 2500 Nominated Adviser on AIM
Limited
+44 (0) 203 772
Daniel Thöle / Anna 2500 Bell Pottinger Investor and Media
Relations
Legge
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 Mbeya, which has a significant NI 43-101 compliant defined resource,
and is developing a 250-350 MW 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 Bankable Feasibility Study report for the
th
MCPP to be released in the near term. On 20 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 550,000 oz. JORC compliant gold Mineral Resource at Imweru
Project and a 168,000 oz. 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 prioritized
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 recognizes 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
20 July 2016
Corporate and Designated Adviser
River Group
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