Kibo Mining PLC (LON: KIBO) (AltX: KBO) has now submitted, as requested, an updated version of its memorandum of understanding (MOU) in regard to the development of the Mbeya coal and power project.
This MOU is also designed to cover the power purchase agreement relating to the power station planned at Mbeya.
What’s more, the Company has not received any further clarification requests from the Tanzania National Environmental Management Council over the past weeks with regard to the MCPP Environmental & Social Impact Assessment and final certification is expected shortly.
READ: Kibo Mining updates on “very successful” meetings in Tanzania
Meanwhile, Kibo has continued with discussions with various internationally recognised infrastructure investors that have already formally expressed interest in an equity investment in Mbeya.
Formal negotiations with these groups will be undertaken over the coming weeks, with the objective of working towards finalising a comprehensive funding arrangement that will satisfy the MCPP equity funding requirement.