The definitive mining feasibility study for Kibo Mining’s Mbeya coal-to-power project (MCPP) is on track for completion by the end of June, according to a recent company news release.
The logistics study and pit optimisation are complete, finalizing the equipment fleet necessary to operate a 1.6 million tpy coal mine. Mine design is in the final stages to be followed by the final mine plan and schedule, while the mining EPC and contracting processes are in progress.
According to the new release, the company has received budget quotes from eight bidders, which are currently in the process of being evaluated.
The mining feasibility study forms a part of the integrated bankable feasibility study (IBFS) for the project, which also includes the definitive power feasibility study that was delivered in May, as well as the environment and social impact assessment.
“At this time multiple work streams are simultaneously underway in the process of completing the IBFS on the MCPP,” said Kibo’s CEO, Louis Coetzee. “The technical work that forms the backbone of the IBFS is now fast drawing to a close and the financial model is in the process of being updated.”
Coetzee also praised the “strong support from the Tanzanian government”, adding that the company remained “confident” that the regulatory and statutory processes would continue to keep pace with MCPP development.
Edited by Jonathan Rowland.