JOHANNESBURG (miningweekly.com) – Tanzania-focused mineral exploration and development company Kibo has received an advanced draft of the integrated financial model for the Mbeya coal-to-power project (MCPP) from its financial advisers, Absa/Barclays.
The model will be the subject of extensive review and further adjustment, based on the results from the final negotiations with Sepco III and General Electric (GE) on the engineering, procurement and construction (EPC) and original equipment manufacturer (OEM) bids for the MCPP.
“Initial results from the MCPP integrated financial model reconfirm the MCPP as a robust project with strong economic, operational and technical integrity,” says CEO Louis Coetzee.
Final negotiations related to the MCPP EPC and OEM contracts are under way in Qingdao, China and will be concluded by Friday.