Kibo Mining PLC (LON:KIBO) believes key permits and approvals for. the Mbeya thermal power station project will come through soon after recent meetings with the authorities in Tanzania.
The Environmental and Social Impact Assessment (ESIA) submissions for the both the coal mine and power station have been processed for certification, pending a final review and verification of recommendations, with the final review in an advanced stage of completion;
The special mining licence (SML) application for the Mbeya coal mine has been processed in its entirety and is now awaiting final approval, pending environmental certification;
Kibo added it was also told the company's operations are not affected by the current debate on mining policies and the Mining Act.
Louis Coetzee, Kibo’s chief executive, said: "Over the past two weeks we have seen strong and committed engagement from all the Tanzanian stakeholders towards moving the MCPP development process forward and the progress meetings on 12 and 13 June underscored this.
“From these meetings we have also developed a far better appreciation of the reasons for the perceived slow processing of the SML application and environmental certification.
“Both processes are now very near completion and pending finalization of the last few actions, will be concluded shortly.”
Shares in Kibo rose by 7.5% to 5.38p
-- updates for share price--