Kibo Energy PLC Snapshot
Kibo Energy is listed on the AIM market in London and the AltX in Johannesburg. The Company is focused on the development of thermal coal power projects in Tanzania, Botswana and Mozambique. These jurisdictions provide a stable operating environment for Kibo and all share an acute need for consistent power. Recently, the Company also finalised an agreement with a UK company for an acquisition that, will give Kibo an entry into the UK Reserve Power market. In time it plans to introduce the Reserve Power market model to its operations in Africa.
Kibo’s flagship project is the Mbeya Coal to Power Project in southern Tanzania which involves the development of the Mbeya Coal Mine, a 1.5Mt p/a mining operation and the Mbeya Power Plant, a 300 MW mine-mouth thermal power station.
In April 2018, the Company completed its acquisition of an 85% interest in the Mabesekwa Coal Independent Power Project (Mabesekwa Project) in Botswana via an all share transaction. The Mabesekwa Project is at the feasibility stage – a completed Mining Scoping Study highlighted a 30-year Life of Mine with a Power Pre–Feasibility Study indicating maximum power capacity of 600 MW based on a coal delivery rate of 3.2 Mt p/a.
Kibo announced in June 2018 that it had signed a Joint Venture Agreement with Mozambique energy company Termoeléctrica de Benga S.A. to participate in the further assessment and potential development of the Benga Independent Power Project (Benga Project) including the right to construct and operate a 150-300 MW coal-fired power station. The Benga Project currently holds a suite of authorisations and agreements in addition to lease title over land on which a coal-fired power station may be built near various thermal coal producers which could be a source of feedstock.
In October 2018, the Company announced that it had acquired a 60% equity interest in Mast Energy Development (MED), a private UK registered company targeting the development and operation of flexible power plants to service the Reserve Power generation market. Under the terms of the deal, the Company acquired a 60% shareholding in MED for a consideration of £300,000 payable to existing MED shareholders in new Kibo shares and a share of future project revenue royalties which will be reinvested in the Company in the short term to an amount of £2.2 million.
Mbeya Coal to Power Project (“MCPP”)
Christian Schaffalitzky, BA (Mod), FIMMM, PGeo, CEng, Age 65
Louis Coetzee, BA, MBA, Age 54
Noel O’Keeffe, BSc (Hons), Geology, MBA, Age 54
Technical Director (Non-Executive) & Secretary
Lukas Marthinus Maree, BLC, LLB, Age 56
Wenzel Kerremans, B.Proc, LLB, LLM, Adv. Dip. Age 60
Andreas Lianos, CA, ACMA, CIA. Age 51
Financial Director (Non-Executive)
On the basis of notifiable shareholdings declared to the company, at this time the following shareholders have declared a shareholding in excess of 3% of issued share capital. All shareholder notifications with such declarations will be promptly announced to market.
Corporate Office in Ireland
Gray Office Park, Galway Retail Park, Headford Road, Galway, Ireland
+353 91 511463
+353 91 511463
Registered Office Ireland
17 Pembroke Street Upper, Dublin 2, Ireland D02 AT22
Operations Office Tanzania
10th floor, Amani Place, Ohio Street, Dar es Salaam, Tanzania
St. Brides Partners Ltd
+44 (0) 207236 1177