KIBO MINING PLC - Mbeya Coal to Power Project Receives Final Approval for ESIA Scoping Reports

Release Date: 16/01/2017 09:00
Code(s): KBO
 
Wrap Text
Mbeya Coal to Power Project Receives Final Approval for ESIA Scoping Reports

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")


16 January 2017

Mbeya Coal to Power Project Receives Final Approval for ESIA Scoping Reports

Kibo Mining plc ("Kibo" or the "Company") (AIM: KIBO; AltX: KBO), the Tanzania focused mineral 
exploration and development Company, is pleased to announce that the Tanzania National Environmental 
Management Council ("NEMC") approved and accepted both the Mbeya Coal Mine and Mbeya Power 
Plant Environmental and Social Impact Assessment ("ESIA") scoping reports.

Approval and acceptance of the scoping reports concludes Stage 2 of the required three stage statutory 
ESIA approval process. Completion of Stage 2 now paves the way for final ESIA certification of both the 
Mbeya Coal Mine and the Mbeya Power Plant.
 
Louis Coetzee, CEO of Kibo Mining, said: "Approval and acceptance of the MCPP ESIA scoping reports 
represents a critical point in the overall ESIA approval process. At this stage the majority of the ESIA 
work, i.e. specific ESIA terms of reference, required specialist studies as well as consultation, have been 
completed, submitted and accepted by the NEMC as compliant for certification. We expect Stage 3, (i.e. 
certification process), to be completed in a shorter time frame than usual, given the fact that the 
preparation work for an accelerated conclusion of Stage 3 was done whilst awaiting approval of the 
scoping reports.

Receipt of the scoping report approvals from the NEMC, follows a week of broad and productive 
consultation with various Tanzanian Government departments regarding the further development of the 
MCPP. These discussions once again confirmed continued support for the MCPP as a strategic energy / 
development project and also that the recent and still ongoing policy changes and restructuring, will have 
significant long term benefits for projects like the MCPP.

Further updates in this regard as well as an update on the completion of the MCPP Integrated Bankable 
Feasibility Study will follow shortly"


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

Liz Morley / 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 ABSA / Barclays 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 25 August 2016, Kibo signed an Agreement with 
China based EPC contractor SEPCO III granting it the right to become the sole bidder for the 
EPC contract to build the power plant component of the MCPP in exchange for SEPCO III 
refunding 50% of the development costs incurred by Kibo to date on the project. Kibo has 
already received the first tranche of this funding in the amount of US$1.8 million on the 5th 
September 2016

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
16 January 2017
Corporate and Designated Adviser
River Group



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