JOHANNESBURG (miningweekly.com) – Dual-listed Kibo Mining has received written reconfirmation from the Tanzanian Ministry of Energy and Minerals (MEM) calling for expedited development of the Mbeya coal-to-power project (MCPP).
"We are pleased with the latest response from the MEM. The process of negotiating and agreeing a final power purchase agreement should now progress at a considerably faster pace than over preceding months, as this remains the key to completing development of the MCPP,” CEO Louis Coetzee said in a statement on Thursday.
He noted that Kibo was encouraged by the MEM's acknowledgement of the advanced development status of the MCPP and its key role as a strategic regional power hub.
“The MCPP is able to tackle the unique challenges faced by the Tanzania energy sector at all levels, thereby providing a catalyst for further economic development."
MCPP entails the development of a coal mine, based on an existing coal resource of about 121-million tons, and a 250 MW to 300 MW mine mouth thermal power station.