Kibo moves closer to concluding PPA, securing project financing for MCPP
JOHANNESBURG (miningweekly.com) – Dual-listed Kibo Mining says it is near concluding a power purchase agreement (PPA), as well as securing project financing for its Mbeya coal-to-power project (MCPP) in Tanzania.
A memorandum of understanding (MoU), as a precursor to a final PPA with Tanzania power utility Tanesco, has passed all the relevant legislative stages and is awaiting final confirmation from Tanzania’s Attorney General.
Once signed, the MoU will provide a fixed framework within which the fundamental commercial and technical components of the PPA will be negotiated and agreed.
Meanwhile, Kibo is also in advanced negotiations with potential project level investors, after several international engineering, procurement and construction companies, power infrastructure developers and financing conglomerates expressed an interest in providing full project level equity funding for the MCPP.
“Having so many global powerhouses expressing a keen interest to partner with us is a fantastic validation of Kibo, the work we've done at the MCPP and the inherent value of the project.
“With the final negotiation of the PPA approaching, full feasibility studies complete and development finance on its way to being secured, this nationally significant project is reaching a tipping point that I believe will see stakeholders rewarded,” CEO Louis Coetzee said on Monday.
The MCPP includes a planned 1.5-million-tonne-a-year coal mine and a 300 MW mine-mouth power station.
Article Enquiry
Email Article
Save Article
Feedback
To advertise email advertising@creamermedia.co.za or click here
Research Reports
Projects
Latest Multimedia
Latest News
Showroom
As one of South Africa's leading manufacturers, Bell Equipment distributes and exports its wide range of heavy equipment globally to mining,...
VISIT SHOWROOM
From batteries for boats and jet skis, to batteries for cars and quad bikes, SABAT Batteries has positioned itself as the lifestyle battery of...
VISIT SHOWROOM
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
