KIBO ENERGY PLC - MCPP Update

Release Date: 16/08/2018 08:00
Code(s): KBO
 
Wrap Text
MCPP Update

Kibo Energy 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: 16 August 2018

                         Kibo Energy Plc (‘Kibo’ or the ‘Company’)
 Approval of MCPP Water Permits and Completion of Re-Submission of Mbeya Coal Special Mining
                                    Licence Application

Kibo Energy Plc (AIM: KIBO; AltX: KBO), the multi-asset, Africa-focused, energy company, is pleased to
announce that the recent application to secure water permits for the Mbeya Coal to Power Project has been
provisionally approved by the Lake Rukwa Water Basin Board. Permanent water permits will be issued
following completion of the construction and implementation of all necessary water infrastructure that will be
required to meet the water needs of the Mbeya Power Plant and Mbeya Coal Mine.

The application was made to permit the operation of numerous water boreholes which are integral to the Mbeya
Coal Mine’s dewatering plan and the provisional approval of these water permits is an integral part of the water
supply strategy for the Mbeya Power Station

Separately the Company has also completed the process of additional submissions related to the local content
plan and integrity pledge, announced in the RNS of 19 July 2018 and the Mining Commission is now in receipt
of a Special Mining License Application for the Mbeya Coal mine that is fully compliant with the latest statutory
requirements, as announced during July 2018.

Louis Coetzee, CEO of Kibo Energy, said: “Kibo is currently involved in a myriad of activities related to the
finalization of the MCPP PPA and subsequent funding and financial close processes. We are very pleased with
the progress over the past weeks and specifically encouraged by the latest media statements, indicating clear
support for Independent Power Producers (‘IPP’) from the Ministry of Energy and also a distinct sense of
urgency to get existing IPP’s like the MCPP implemented.”

                                              **ENDS**
This announcement contains inside information as stipulated under the Market Abuse Regulations (EU) no.
596/2014 ("MAR").

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

 Louis Coetzee           info@kibomining.com        Kibo Mining Plc             Chief Executive Officer
 Andreas Lianos          +27 (0) 83 4408365         River Group                 Corporate and Designated
                                                                                Adviser on JSE

 Ben Tadd /              +44 (0) 20 3700 0093       SVS Securities Limited      Joint Broker
 Tom Curran

 Jon Belliss             +44 (0) 20 7399 9400       Novum Securities Ltd        Joint Broker

 Andrew Thomson          +61 8 9480 2500            RFC Ambrian Limited         NOMAD on AIM

 Isabel de Salis /       +44 (0) 20 7236 1177       St Brides Partners Ltd      Investor and Media
 Priit Piip                                                                     Relations Adviser


Notes to editors
Kibo Energy Plc is a multi-asset, Africa focussed, energy company positioned to address the acute power deficit,
which is one of the primary impediments to economic development in Sub-Saharan Africa. To this end, it is
the Company’s objective to become a leading independent power producer in the region.

Kibo is simultaneously developing three similar coal-fuelled power projects: the Mbeya Coal to Power Project
(‘MCPP’) in Tanzania; the Mabesekwa Coal Independent Power Project (‘MCIPP’) in Botswana; and the Benga
Independent Power Project (‘BIPP’) in Mozambique. By developing these projects in parallel, the Company
intends to leverage considerable economies of scale and timing in respect of strategic partnerships, procurement,
equipment, human capital, execution capability / capacity and project finance. Additionally, the Company will
benefit from its robust and experienced international blue-chip partnership network across its project portfolio,
which includes: SEPCO III (China), General Electric (USA); Tractebel Engineering (Belgium); Minxcon
Consulting (South Africa); ABSA / Barclays Africa; and Hogan Lovells International LLP.

Johannesburg
16 August 2018
Corporate and Designated Adviser
River Group

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