21 June 2016

Kibo Mining plc ('Kibo' or the 'Company') (AIM: KIBO; AltX: KBO), the Tanzania focussed mineral exploration and development company is pleased to update shareholders on the latest progress with regard to the main work streams on the Mbeya Coal to Power Project ('MCPP') Integrated Bankable Feasibility Study ('IBFS').

  • Power
    • Definitive Power Feasibility Study completed and report reviewed and delivered (RNS May 4, 2016).
    • EPC specification completed.
    • Preparation for EPC bid procurement process completed.
    • Successful pre-bid procedure with SEPCOIII completed, in accordance with the requirements of the Kibo/SEPCO III Joint Development Agreement.
  • Mining
    • Definitive Mining Feasibility Study is on track for completion by end June 2016:
      • Logistics Study completed. This study finalised the mining specific and general equipment and vehicle fleet required to operate the 1,6 Mt per annum coal mine, and confirmed conclusion of the Pre-Feasibility Study.
      • Pit Optimization complete.
      • Mine Design process in final stages, to be followed by the final mine plan and schedule.
      • Mining EPC and Contracting process in progress with budget quotes received from 8 bidders which are currently in the process of being evaluated.
  • Environment and Social Impact Assessment
    • Project Registration complete (RNS May 19, 2016)
    • Scoping Study Phase: Specialist field work stage complete.
    • Socio-economic consultation process completed.
    • Hydrology Study and water model nearing completion.

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Mbeya Coal to Power Project Update

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Kibo Mining plc published this content on 21 June 2016 and is solely responsible for the information contained herein.
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