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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