To view the PDF file, sign up for a MySharenet subscription.

KIBO ENERGY PLC - Mining Rights for Mbeya Coal to Power Project - Update

Release Date: 06/09/2019 08:00
Code(s): KBO     PDF:  
 
Wrap Text
Mining Rights for Mbeya Coal to Power Project - 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: 06 September 2019


                          Kibo Energy PLC (‘Kibo’ or the ‘Company’)
                     Mining Rights for Mbeya Coal to Power Project - Update


Kibo Energy PLC, the multi-asset, Africa focused, energy company, is pleased to announce a status
update on the seven Mining Rights for its Mbeya Coal to Power Project ('MCPP') which were approved
and granted as announced in the RNS of 15 August 2019.


The Company was informed by its Tanzanian subsidiary, Mbeya Coal Ltd, that the required statutory
payments to the Mining Commission related to the final processing and issuance of the Mining Rights
were made well within the required payment time frame and subsequently accepted by the Tanzanian
Ministry of Minerals.


Louis Coetzee, CEO of Kibo, commented, “Today’s announcement provides further confirmation
that the MCPP is rapidly gaining momentum and we are looking forward to providing further updates
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
                                                                           Corporate and Designated
 Andreas Lianos          +27 (0) 83 4408365            River Group
                                                                                Adviser on JSE
 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 /                                                             Investor and Media
                        +44 (0) 20 7236 1177      St Brides Partners Ltd
   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
06 September 2019
Corporate and Designated Adviser
River Group

Date: 06/09/2019 08:00:00
Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE'). 
The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of
 the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct, 
indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on,
 information disseminated through SENS.

Email this JSE Sens Item to a Friend.

Share This Story