KIBO MINING PLC - Kibo Mining Plc MOU Update

Kibo Mining Plc MOU Update

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’)

Dated: 05 February 2018

                              Kibo Mining Plc (‘Kibo’ or the ‘Company’)
                                           MOU Update

Kibo Mining Plc (AIM:KIBO; AltX:KBO), the multi-asset African focused energy and resource
company, announces that following a month of close interaction and co-operation with the Tanzania
Electric Supply Company (‘TANESCO’) and the Ministry of Energy ‘(the Ministry’), at both
departmental as well as ministerial level, the Company CEO and COO arrived in Dar es Salaam on 02
February 2018 to conclude final formalities related to the signing of the MCPP Memorandum of
Understanding. (Also see RNS dated 10 January 2018 in this regard).

                                                 **ENDS**

For further information please visit www.kibomining.com or contact:

Louis Coetzee             louisc@kibomining.com     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    Broker
                                                    Limited
Andrew Thomson            +61 8 9480 2500           RFC Ambrian Limited    NOMAD on AIM
Isabel de Salis / Priit   +44 (0) 207 236 1177      St Brides              Investor and Media
Piip                                                Partners Ltd           Relations Adviser

Notes to editors
The Mbeya Coal to Power Project (‘MCPP’), comprises the development of the Mbeya Coal Mine, a
1.5Mt p/a mining operation and the Mbeya Power Plant, a 300 MW mine-mouth thermal power station.

The Mbeya Coal Mine has a defined 120.8 Mt NI 43 101 thermal coal resource. A Definitive Feasibility
Study has been conducted on the project which underpins its value with an indicated IRR of 69.2%.
The 300 MW mouth-of-mine thermal power station has long term scalability to 1000MW, with a full
Power Feasibility Study that has been completed, highlighting an annual power output target of 1.8 GW
based on annual average coal consumption of 1.5 Mt. An Integrated Bankable Feasibility Study report
for the entire project indicated total potential revenues of US$ 7.5-8.5 billion over an initial 25-year
mine life, post tax equity IRR between 21-22%, debt pay-back period of 11-12 years and a construction
period of 36 months.

To assist in the execution of this critical power project of the MCPP, Kibo has assembled an
international team of advisors and partners including Engineering Procurement and Construction
(‘EPC’) contractors and financial teams that are assisting in the advancement and development of the
MCPP. These include ABSA/Barclays as Financial Advisor, China based EPC contractor SEPCO III,
General Electric, Tractebel Engineering (Power), Minxcon Consulting (Mining) and legal advisors
Norton Rose Fulbright.
Johannesburg
05 February 2018
Corporate and Designated Adviser
River Group
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