Kibo Mining PLC (LON:KIBO) has issued a rebuke to press speculation around the status of its negotiations with the Tanzania Electric Supply Company (TANESCO) over the development of the Mbeya Coal to Power Project.
The AIM-listed energy company was responding to an article published on June 28 by Tanzanian news site The Citizen, which said that TANESCO had decided to suspend discussions with private investors who had shown interest in investing in power generation projects, including Mbeya.
READ: Kibo Mining finalises joint venture agreement for development of Benga Independent Power Project
Kibo said its engagement with TANESCO remained unchanged regarding the development of Mbeya and that it was continuing discussions regarding the power purchase agreement for the 300-megawatt project.
On Thursday, the company said it had finalised a joint venture agreement with Mozambique energy company Termoeléctrica de Benga SA regarding the development of the separate Benga Independent Power Project.