Tanzania: Kibo Upbeat on Mbeya Coal Mine

Posted on : Saturday , 17th October 2015

Chief executive Louis Coetzee said: “The MCPP, as an integrated project, is persistently growing in stature. This is best reflected in the continued progress we are making towards concluding critical commercial arrangements on the MCPP, to ensure optimal value creation and realization on the Company’s flagship asset.

These efforts are in turn strongly supported by the ongoing feasibility work that is continuing in parallel, and at pace. It is clear from the information above and the exciting financial results announced on October 12, that Kibo is entering the final phases of the MDMFS with confidence and significant momentum.

During the MDMFS the final mine designs, mine plans and construction planning will be completed in preparation for the construction phase that will follow. “Understanding the context of this announcement as well as the RNS of October 12, is of critical importance.

The MCPP is totally dependent on the reliability and sustainability of its fuel source i.e. the Mbeya coal mine.

The results announced on October 12, not only confirmed that the mine is technically, operationally and financially robust, but that the MCPP power component has, as direct result thereof, solid foundation on which it can be developed.”