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Kibo receives government backing for Mbeya project

Kibo Mining has been asked to fast track its coal to power project in Tanzania after meeting with government representatives last week. Kibo chief executive Louis Coetzee met with Professor Sospeter Muhongo, Tanzania’s minister of energy and minerals, to discuss the progress of its Mbeya project.
Kibo receives government backing for Mbeya project
The Minister ask that Kibo did “everything possible” to fast track the project...

Kibo Mining (LON:KIBO) has been asked to fast track its coal to power project in Tanzania after meeting with government representatives last week.

Kibo chief executive Louis Coetzee met with Professor Sospeter Muhongo, Tanzania’s minister of energy and minerals, to discuss the progress of its Mbeya project.

Muhongo reiterated the country’s need for a reliable supply of base load power and requested that Kibo did “everything possible” to fast track the project.

The Mbeya project aims to achieve first phase production of 300MW by 2019.

“As progress on the overall feasibility work for the project continues at pace, it is highly encouraging to receive continued support from the Tanzanian government,” said Coetzee.

Share price fell 5.4% to 4.02p.

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