Kibo Mining PLC (LON:KIBO) has received expressions of interest from nearly all of the groups it contacted to handle the running of the power plant at its Mbeya thermal project in Tanzania.
The process involved Kibo writing to a number of operations and maintenance (O&M) specialists in the third party market.
Of the companies approached, 90% expressed an interest, with one declining the opportunity on the basis of capacity constraints.
Louis Coetzee, Kibo Mining’s chief executive, said the response indicated a strong market interest in the MCPP [Mbeya], "but also confirmed the robustness of the project based on the willingness of prospective O&M contractors to commit for the entire life of plant i.e. 25 years".
“As we diligently continue with the last remaining work required to finalize the Integrated Bankable Feasibility for the MCPP, we are in parallel finalizing the definitive agreement with Lake Victoria Gold Limited to amalgamate our Imweru gold project with LVG's Imvelo gold project," he added.