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KIbo advances Mbeya on four fronts

Before Mbeya can advance to financial close, it must first deliver an appropriately competent IBFS

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During the past week, the project underwent its first significant external stress test and withstood this with ease.

Kibo Mining (LON:KIBO) has completed the first phase of Integrated Bankable Feasibility Study (IBFS) for the Mbeya coal to power project in Tanzania.

Before Mbeya can advance to financial close, it must first deliver an appropriately competent IBFS that meets internationally accepted technical and financial standards, Kibo said.

The key components of the work underway are the IBFS; the definitive mining feasibility study (DMFS); definite power feasibility study (DPFS);   environmental impact assessment (EIA) for both the Mbeya coal mine and the Mbeya power station.

Louis Coetzee, chief executive, said: “The four key work streams are all active and progressing in parallel.

“This is in itself the strongest indicator of the considerable momentum with which the feasibility work on the MCPP  [Mbeya] is advancing, and fast nearing completion.”

“During the past week, the MCPP underwent its first significant external stress test and withstood this with ease. This bodes well for the intricate commercial and funding related negotiations in the coming weeks and months."

 

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Price: 0.22 GBX

LSE:KIBO
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Market Cap: £3.11 m
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