Tanzania focused mineral exploration and development company, Kibo Mining plc, has announced that Phase 1 of the Mbeya coal-to-power project (MCPP), integrated bankable feasibility study (IBFS), has been successfully completed.
Kibo has completed fundamental meetings with all key Government stakeholders.
The company has reported successful integration of three primary MCPP feasibility study work streams.
Kibo has also formally appointed Shangoni Management Services LTD as environmental consultant.
Louis Coetzee, CEO of Kibo Mining, commented: “The completion of the first phase of the IBFS is a critical step in the overall feasibility work, which is now progressing at pace. The four key work streams, (MDFS, PDFS, EIA and IBFS) are all active and progressing in parallel. This is in itself the strongest indicator of the considerable momentum with which the feasibility work on the MCPP is advancing – and fast nearing completion.
Coetzee continued: “We took great care during the preceding stages of the MCPP feasibility work to ensure that solid foundations are put in place on which the MCPP can be developed. These would be particularly important during the final stages of the feasibility work, when the project is invariably subjected to stringent external stress tests. During the past week, the MCPP underwent its first significant external stress test and withstood this with ease. This bodes well for the intricate commercial and funding related negotiations in the coming weeks and months.”
Edited from press release by Harleigh Hobbs