Sign up UNITED KINGDOM
Proactive Investors - Run By Investors For Investors

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.

View full KIBO profile

Kibo Mining PLC Timeline

Related Articles

Pink diamond
March 28 2016
Tango Mining is to borrow C$30mln to finalise the acquisition and restart operations at the BK11 Kimberlite Diamond Mine in Orapa, Botswana, it was announced earlier this year.
great-boulder-resources_MD-Stefan-Murphy-presenting-Melb-Jan-2017-757.jpg
February 03 2017
Stefan Murphy discussed with investors gold assets and drilling programs.
US dollars
September 28 2016
So, now we know how StratMin will finance its investment commitments to the 12,000 tpa large-flake graphite project in Madagascar

© Proactive Investors 2017

Proactive Investor UK Limited, trading as “Proactiveinvestors United Kingdom”, is Authorised and regulated by the Financial Conduct Authority.
Registered in England with Company Registration number 05639690. Group VAT registration number 872070825 FCA Registration number 559082. You can contact us here.