Kibo Mining PLC (LON:KIBO) said that, following a week of follow-up meetings with Government departments and other Tanzanian stakeholders regarding the further development of its Mbeya Coal to Power Project (MCPP), there is no identified adverse impact on the development as a result of recent changes in the legislative environment.
The Tanzania-focused mineral exploration and development group added that, further, on the basis of these discussions, the company does not anticipate any future adverse impact on the development of the MCPP, although the firm will be diligently reviewing its position on the matter going forward.
READ: KIbo Mining assured key permits for Mbeya project to come through soon
Kibo reiterated that the completion of the Mbeya Coal special mining right application remains on schedule as does the environmental certification of the Mbeya Coal Mine and Mbeya Power Plant.
It said further high level workshops and meetings will take place in the course of next week as part of the recently announced priority development schedule for the MCPP and the company looks forward to updating shareholders in due course.
Louis Coetzee, Kibo’s CEO, said: "As far as continued progress in the development of the MCPP is concerned, we have not seen any slowdown or hesitation from the Tanzanian government or regulatory authorities as a result of the recent legislative changes.
“As stated before it is business as usual for Kibo, while we continue to study the latest amendments to the mining act to understand any possible impact these may have on Kibo and its projects. We will continue to keep the market updated".