Kibo Energy PLC (LON:KIBO) told investors it has been granted seven new mining rights relating to the Mbeya Coal to Power Project (MCPP) in Tanzania.
It highlighted, in a stock market statement, that it continues to advance MCPP which is one of the company’s four international power projects.
This latest milestone constitutes approval and grant of the Mining License applications, subject to Kibo remitting all required statutory payments.
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"The successful delivery of the MCPP is gaining momentum,” Louis Coetzee, Kibo chief executive.
“Receiving these seven Mining Rights to enable commercial mining activity is another key milestone, which we anticipate will provide a better economic outcome for all concerned stakeholders and further clarity regarding the project's ongoing development, especially when the continued progress that has been made recently in securing offtake for the Mbeya Power Plant is considered as well.
He added: “We are delighted with the excellent cooperation and support by the Mining Commission of Tanzania and look forward to providing further updates in due course."