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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: 27 February 2018
Kibo Mining Plc (‘Kibo’ or the ‘Company’)
Press Speculation
Kibo Mining plc (AIM: KIBO; AltX: KBO), the multi-asset Africa-focused energy and
resource company, announces that, contrary to press speculation, the company has not
yet signed a PPA with Tanzania Electric Supply Company (‘TANESCO’), however it remains
in advanced discussions with TANESCO and the Ministry of Energy (‘the Ministry’)
regarding the Power Purchase Agreement (‘PPA’) for the Company’s flagship 300MW Mbeya
Coal to Power Project (‘MCPP’). The PPA will enable Kibo to move towards execution and
conclusion of the final development phase of the MCPP.
**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) 20 7382 8300
Beaufort Securities Limited
Broker
Andrew Thomson
+61 8 9480 2500
RFC Ambrian Limited
NOMAD on AIM
Isabel de Salis / Priit Piip
+44 (0) 20 7236 1177
St Brides Partners Ltd
Investor and Media Relations Adviser
This announcement contains inside information as stipulated under the Market Abuse
Regulations
(EU) no. 596/2014 ("MAR").
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
27 February 2018
Corporate and Designated Adviser
River Group
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