Wrap Text
Progress Update on Mbeya Coal LTD Mining Licence Application
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: 09 July 2019
Kibo Energy PLC (‘Kibo’ or the ‘Company’)
Progress Update on Mbeya Coal LTD Mining Licence Application
Kibo Energy PLC, the multi-asset, Africa focused, energy company, is pleased to announce a further
positive development on the Mbeya Coal to Power Project (“MCPP”) licencing process.
Highlights
*SML Application recommended for Approval, September 20, 2018 (RNS, September 26,
2018);
*Special Mining Licence (“SML”) Application converted to seven Mining Licence (“ML”)
Applications in the interest of a better economic outcome for all concerned stakeholders; and
*Excellent cooperation and support by the Mining Commission of Tanzania.
Louis Coetzee, CEO of Kibo Energy, commented, “We are very encouraged by the latest
developments in respect of our ML-application, which is the product of constructive and co-operative
interaction with the Mining Commission. The conversion of the SML-application into seven ML-
applications demonstrates the willingness and commitment of the Mining Commission to cooperate with
investors under the latest mining legislation and to find practical solutions in the interest of all
stakeholders in order to stimulate the mining industry in Tanzania. The change in approach with regard
to the ML-application has also provided further clarity with regard to ongoing development of the MCPP
in general and will afford the MCPP with a very welcome gain in forward momentum.”
Details
Following the publication by the Mining Commission on September 20, 2018 (see RNS of September
26, 2018) that the Mbeya Coal Ltd Application for a SML was recommended for approval, Kibo
remained engaged in communication with the Mining Commission regarding the approval process,
which amongst other items also required cabinet approval. The Mining Commission and Kibo recently
agreed that on technical and procedural grounds converting the SML-application into seven ML-
applications would be the most efficient and effective approach under prevailing legislation to licence
the area under application for commercial mining activity and to ensure proper support for the
successful delivery of the MCPP. This approach also allows for improved opportunity to serve the
interests of all stakeholders in a more balanced manner over the long term. There is no difference in the
status of a SML versus that of a ML with the key differences between the two types of licences being
(1) Surface Area, (SML – 70 Km2; ML – 10Km2 ); (2) Duration, (SML – Life of Mine; ML – 10 Years,
renewable until depletion of deposit) and (3) Level of Approval (SML – Cabinet level; ML – Ministerial
level. Further updates on the progress of the seven ML-applications will be provided in due course.
**ENDS**
This announcement contains inside information as stipulated under the Market Abuse Regulations (EU)
no. 596/2014.
For further information please visit www.kibo.energy or contact:
Louis Coetzee info@kibo.energy Kibo Energy 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
Jason Robertson +44 (0) 20 7374 2212 First Equity Limited 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
Gaby Jenner Relations Adviser
Notes
Kibo Energy PLC is a multi-asset, Africa focused, 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 has a 60% interest in MAST Energy Developments Limited (‘MED’), a
private UK registered company targeting the development and operation of flexible power plants to
service the Reserve Power generation market.
Johannesburg
09 July 2019
Corporate and Designated Adviser
River Group
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