Kibo advances with reorganising arrangements for Botswana coal project
Africa-focused energy company Kibo Energy has signed the first of a series of agreements to implement the heads of agreement (HoA) with Shumba Energy to reorganise the arrangements for the Mabesekwa coal independent power project (MCIPP) and its associated coal asset in Botswana.
The signed shareholder agreement concludes the restructuring of the first Botswana subsidiary company, Kibo Energy Botswana (KEB), in which Kibo holds a 35% interest.
KEB holds a 761-million-tonne coal resource and has three large customers.
The remaining agreements are on track to be completed by March 20, 2020. This will result in Kibo holding an 85% interest in an energy project to be called KP2, and an interest of between 35% and 40% in a new 300 MW energy project, KP1, that will exclusively provide a new petrochemicals plant with energy.
The agreement also gives Kibo access to a revenue stream from an estimated coal production of 7.5-million tonnes a year.
On Friday, Kibo CEO Louis Coetzee said the company now has the ability to fully leverage its coal resource at Mabesekwa by providing and fast-tracking three different revenue streams.
Comments
Press Office
Announcements
What's On
Subscribe to improve your user experience...
Option 1 (equivalent of R125 a month):
Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format
Option 2 (equivalent of R375 a month):
All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors
including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.
Already a subscriber?
Forgotten your password?
Receive weekly copy of Creamer Media's Engineering News & Mining Weekly magazine (print copy for those in South Africa and e-magazine for those outside of South Africa)
➕
Recieve daily email newsletters
➕
Access to full search results
➕
Access archive of magazine back copies
➕
Access to Projects in Progress
➕
Access to ONE Research Report of your choice in PDF format
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation