Kibo Energy PLC MCPP Update (9906X)
August 16 2018 - 1:01AM
UK Regulatory
TIDMKIBO
RNS Number : 9906X
Kibo Energy PLC
16 August 2018
Kibo Energy Plc (Incorporated in Ireland)
(Registration Number: 451931)
(External registration number: 2011/007371/10)
Share code on the JSE Limited: KBO
Share code on the AIM: KIBO
ISIN: IE00B97C0C31
("Kibo" or "the Company")
Dated: 16 August 2018
Kibo Energy Plc ('Kibo' or the 'Company')
Approval of MCPP Water Permits and Completion of Re-Submission
of Mbeya Coal Special Mining Licence Application
Kibo Energy Plc (AIM: KIBO; AltX: KBO), the multi-asset,
Africa-focused, energy company, is pleased to announce that the
recent application to secure water permits for the Mbeya Coal to
Power Project has been provisionally approved by the Lake Rukwa
Water Basin Board. Permanent water permits will be issued following
completion of the construction and implementation of all necessary
water infrastructure that will be required to meet the water needs
of the Mbeya Power Plant and Mbeya Coal Mine.
The application was made to permit the operation of numerous
water boreholes which are integral to the Mbeya Coal Mine's
dewatering plan and the provisional approval of these water permits
is an integral part of the water supply strategy for the Mbeya
Power Station
Separately the Company has also completed the process of
additional submissions related to the local content plan and
integrity pledge, announced in the RNS of 19 July 2018 and the
Mining Commission is now in receipt of a Special Mining License
Application for the Mbeya Coal mine that is fully compliant with
the latest statutory requirements, as announced during July
2018.
Louis Coetzee, CEO of Kibo Energy, said: "Kibo is currently
involved in a myriad of activities related to the finalization of
the MCPP PPA and subsequent funding and financial close processes.
We are very pleased with the progress over the past weeks and
specifically encouraged by the latest media statements, indicating
clear support for Independent Power Producers ('IPP') from the
Ministry of Energy and also a distinct sense of urgency to get
existing IPP's like the MCPP implemented."
**ENDS**
This announcement contains inside information as stipulated
under the Market Abuse Regulations (EU) no. 596/2014 ("MAR").
For further information please visit www.kibomining.com or
contact:
Louis Coetzee info@kibomining.com Kibo Mining Plc Chief Executive
Officer
Andreas Lianos +27 (0) 83 4408365 River Group Corporate and Designated
Adviser on JSE
-------------------- -------------------- -------------------------
Ben Tadd / Tom +44 (0) 20 3700 SVS Securities Joint Broker
Curran 0093 Limited
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Jon Belliss +44 (0) 20 7399 Novum Securities Joint Broker
9400 Ltd
-------------------- -------------------- -------------------------
Andrew Thomson +61 8 9480 2500 RFC Ambrian Limited NOMAD on AIM
-------------------- -------------------- -------------------------
Isabel de Salis +44 (0) 20 7236 St Brides Partners Investor and Media
/ Priit Piip 1177 Ltd Relations Adviser
-------------------- -------------------- -------------------------
Notes to editors
Kibo Energy Plc is a multi-asset, Africa focussed, energy
company positioned to address the acute power deficit, which is one
of the primary impediments to economic development in Sub-Saharan
Africa. To this end, it is the Company's objective to become a
leading independent power producer in the region.
Kibo is simultaneously developing three similar coal-fuelled
power projects: the Mbeya Coal to Power Project ('MCPP') in
Tanzania; the Mabesekwa Coal Independent Power Project ('MCIPP') in
Botswana; and the Benga Independent Power Project ('BIPP') in
Mozambique. By developing these projects in parallel, the Company
intends to leverage considerable economies of scale and timing in
respect of strategic partnerships, procurement, equipment, human
capital, execution capability / capacity and project finance.
Additionally, the Company will benefit from its robust and
experienced international blue-chip partnership network across its
project portfolio, which includes: SEPCO III (China), General
Electric (USA); Tractebel Engineering (Belgium); Minxcon Consulting
(South Africa); ABSA / Barclays Africa; and Hogan Lovells
International LLP.
Johannesburg
16 August 2018
Corporate and Designated Adviser
River Group
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END
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