Kibo Mining Issued New Licenses Next to Its Rukwa Coal Deposit, Tanzania
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Kibo Mining has been issued with three new licenses in Tanzania next to its Rukwa coal deposit.
Rukwa is the fuel source for a proposed 350 megawatt (Mw) thermal power station development at Mbeya and the three new licenses are immediately north, south and east.
In the short term, they will further enhance the bankable feasibility study and subsequent development of the project as well as providing longer term exploration potential.
Louis Coetzee, Kibo Mining’s chief executive, said that in strategic terms the new licenses highlighted that the power plant can ultimately be expanded to 1,000Mw and allayed any long term fears about the price the power station will have to pay over the long-term to fuel the power plant.
“It also demonstrates the Tanzanian Government’s on-going support for and acknowledgment of the strategic importance of the MCPP [Mbeya].”
Source: (January 13, 2016) Proactive Investors
About Kibo Mining
Kibo Mining plc is a Tanzania-based minerals exploration and development company, focused on realizing value from the Mbeya Coal to Power Project (MCPP) (formerly known as Rukwa Coal to Power Project) and the Imweru gold project, as well as holding one of the largest exploration land packages in the country with assets spanning coal, gold, uranium and nickel-platinum group metals.
To stop by Kibo’s website, CLICK HERE
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