JOHANNESBURG (miningweekly.com) – The definitive mining feasibility study for Tanzania-focused mineral exploration and development company Kibo Mining’s Rukwa Coal to Power Project (RCPP) has determined that its expected deliverable margin a tonne and overall estimated profitability is likely to be higher than initially expected.
Kibo noted in a statement on Monday that the report had, therefore, further enhanced the project’s robustness and the attractiveness of the coal mining operation.
"We are delighted to receive this, the first of three crucial reports which will tangibly demonstrate to the market the value of the company's assets. We have held firm to our belief that the RCPP is a unique and highly valuable asset,” CEO Louis Coetzee said.
Alongside the definitive mining feasibility study, Kibo was also undertaking a power prefeasibility study for the RCPP mine-mouth power station.
“This report is progressing very well and is also expected to be received shortly and on schedule,” Kibo said.
The company further added that its preliminary economic assessment with respect to its Imweru gold project, in Tanzania, was also progressing well and would be delivered on schedule.