Kibo Mining unfazed by management restructuring at Tanzanian Electric Supply Company
JOHANNESBURG – Kibo Mining has said that it was not fazed by the ongoing changes and restructuring at the Tanzanian Electric Supply Company (Tanesco) which were seen as threatening to its Mbeya Coal to Power Project (MCPP).
This comes after Tanzania president John Magufuli promptly sacked Tanesco MD Felchesmi Mramba, after the country’s Department of Energy and Minerals revoked an 8.5% increase in power charges that was to come into effect on Sunday.
Kibo is on the brink of developing a 250 MW to 350 MW mouth-of-mine thermal power station in its power and coal mine elements, the MCPP in south-western Tanzania.
Kibo said it viewed the latest announcements regarding management changes and tariff reviews as part of an ongoing reform and restructuring process.
The Tanzania-focused mineral exploration and development company said Tanesco had been undergoing policy changes and restructuring under the new Tanzanian government.
Kibo Mining CEO Louis Coetzee, said the latest announcements with regard to Tanesco would not in any way affect the MCPP.
“The latest announcements with regard to Tanesco are not directed at any of the utility’s development projects or business development policies, nor are there any indications that the latest announcements will in any way affect the Mbeya Coal to Power Project (MCPP), or any of the work streams currently underway in this regard,” Coetzee said.
“Through our close and transparent relationship with the Tanzanian government, we will continue to diligently progress the further development of the MCPP and we will promptly update shareholders should any changes materially impact the current work programme of the MCPP.”
Comments
The
content
you are trying to access is only available to subscribers.
If you are already a subscriber, you can Login Here.
If you are not a subscriber, you can subscribe now, by selecting one of the below options.
For more information or assistance, please contact us at subscriptions@creamermedia.co.za.
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