Technical work on its Mbeya thermal power station project in Tanzania is fast drawing to a close, Kibo Mining PLC (LON:KIBO) said today.
At the power plant, following an update to the definitive feasibility study last month, the specification for the engineering contract has been completed and the pre-bid procedure agreed with Chinese partner SEPCOIII.
At the mine, a definitive feasibility study should be completed by the end of the month, while the mine design is in the final stages.
Eight bids are under evaluation for the mine construction.
On the environmental side, the hydrology study for the permit is nearing completion with the socio-economic work now done.
Louis Coetzee, Kibo’s chief executive, said: "At this time multiple work streams are simultaneously underway in the process of completing the IBFS [bankable study] on the MCPP [Mbeya project].
“The technical work that forms the backbone of the IBFS is now fast drawing to a close and the financial model is in the process of being updated.”