JOHANNESBURG (miningweekly.com) – Dual-listed Kibo Mining has rallied law firm Norton Rose Fulbright to assist with the preparation and negotiation of commercial arrangements and agreements pertaining to a power purchase agreement (PPA) with the Tanzanian government and power distribution company Tanesco for the Mbeya coal-to-power project (MCPP).
The two parties on Wednesday signed an engagement letter, which outlined the terms and conditions for the agreement.
The company believes that Nortorn Rose Fulbright’s advisory services on major energy projects in Africa will assist Kibo at this critical stage in the development of the MCPP.
"The signing of the engagement letter is a critical appointment in this advanced development stage of the MCPP, where we seek to negotiate and finalise a PPA. Significant progress has been made in this area and the appointment of Norton Rose Fulbright will add critical momentum to our initiatives in this regard,” CEO Louis Coetzee said.
The project will see the development of a 250 MW to 350 MW mouth-of-mine thermal power station, which will be fed from the Mbeya coal deposit, containing 109-million tonnes.