Wrap Text
Signs Letter of Engagement with global law firm Norton Rose Fulbright
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”)
17 August 2016
Kibo Signs Letter of Engagement with global law firm Norton Rose Fulbright
Kibo Mining plc (“Kibo” or the “Company”) (AIM: KIBO; AltX: KBO), the Tanzania focused
mineral exploration and development Company is pleased to announce that it has signed
an Engagement Letter (the “Letter”) with global law firm Norton Rose Fulbright to
provide it with legal services in regard to the development of its Mbeya Coal to Power
Project in Tanzania. The Letter outlines the terms and conditions under which Norton
Rose Fulbright will assist the Company with the preparation and negotiation of
commercial arrangements and agreements pertaining to the MCPP Power Purchase Agreement
(“PPA”), with the Tanzanian Government and TANESCO (Tanzania’s parastatal power
distribution company).
Norton Rose Fulbright is a global law firm with offices in over 50 cities across
Europe, the United States, Canada, Latin America, Asia, Australia, Africa, the Middle
East and Central Asia. Its clients include major global corporations and financial
institutions and it has a strong reputation and experience across energy infrastructure,
mining and commodities. The firm advises on major energy projects in Africa and is
ideally placed to assist Kibo at this critical stage in the development of the MCPP.
Louis Coetzee, CEO of Kibo Mining, said: “The signing of the engagement Letter with
Norton Rose Fulbright is a critical appointment in this advanced development stage of
the MCPP, where we seek to negotiate and finalize a PPA with the Tanzanian Government.
Significant progress has been made in this area and the appointment of Norton Rose
Fulbright will add critical momentum to our initiatives in this regard.”
Contacts
Louis Coetzee
+27 (0) 83 260 6126
Kibo Mining plc
Chief Executive Officer
Andreas Lianos
+27 (0) 83 440 8365
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 Thöle / 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 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 MCPP 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 100% owned projects with a
550,000 oz. JORC compliant gold Mineral Resource at the Imweru Project and a 168,000 oz.
NI 43-101 compliant gold Mineral Resource at the Lubando Project. 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
17 August 2016
Corporate and Designated Adviser
River Group
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