MCPP Delivers First Classrooms

RNS Number : 6404Y

Kibo Mining Plc

06 March 2017

 

Kibo Mining 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")

 

  06 March 2017

Mbeya Coal to Power Project Delivers First Classrooms as Part of Long Term Education Strategy in Songwe Region

Kibo Mining plc ("Kibo" or the "Company") (AIM: KIBO; AltX: KBO), the Tanzania focused mineral exploration and development company, is pleased to announce that on Friday, 3 March 2017, the CEO of Kibo Mining PLC ("Kibo"), officially unveiled and handed over two newly built classrooms to the Regional Commissioner of Songwe, Tanzania.

The classrooms are part of an ongoing joint programme by Kibo and the towns of Meheza and Namkukwe, directly North - east of the Mbeya Coal to Power Project ("MCPP") in the Songwe Region in South Western Tanzania, to extend and refurbish the local schools at the respective towns.

While addressing the assembled communities of Meheza and Namkukwe during the unveiling ceremony, Mr. Coetzee stressed the critical importance of education, which is the only foundation on which long term sustainable development can be based. He further stressed the important role the MCPP should and can play as a major enabler in the development of the Tanzanian economy and more specifically of the Songwe region.

The MCPP will, during construction and later during production, provide a significant number of direct and indirect job opportunities and will primarily be looking at the Songwe region to provide in said labour requirements. To ensure that this is achieved and sustained over the long term, significant investment in quality education and education infrastructure will be required. To this effect, the Meheza and Namkukwe communities, of which Kibo is a proud member, has developed a long term education strategy that will improve and expand local education and education infrastructure, to ensure that future education is delivered at the qualitative and quantitative standards that will be required in a fast growing regional and national economy. Building the classrooms at Meheza and Namkukwe was the first tangible delivery towards successful implementation of this education strategy.

Whilst welcoming Kibo into the communities of Namkukwe and Meheza, Songwe Regional Commissioner Chiku Gallawa urged Meheza and Namkukwe to embrace and support the project as a unique opportunity to take responsibility and ownership of shaping their future. She further stressed the importance of the project, not only for the development of the Songwe region but also for the National Tanzanian economy.

For photo coverage of the unveiling ceremony and building process of the classrooms, please access the following link: http://kibomining.com/projects/mbeya-coal/ .

Contacts

Louis Coetzee	[phone]	Kibo Mining plc	Chief Executive Officer
Andreas Lianos	[phone]	River Group	Corporate Adviser and Designated Adviser on JSE
Jon Belliss	[phone]	Beaufort Securities Limited	Broker
Oliver Morse	[phone]	RFC Ambrian Limited	Nominated Adviser on AIM
Liz Morely / Anna Legge	[phone]	Bell Pottinger	Investor and Media Relations

Kibo Mining - Notes to editors

Kibo Mining is listed on the AIM market in London and the AltX in Johannesburg. The Company is focused on exploration and development of mineral projects in Tanzania, and controls one of Tanzania's largest mineral right portfolios. Tanzania provides a secure and stable operating environment for the mineral resource industry and Kibo Mining therein.

Kibo Mining holds a thermal coal deposit at Mbeya, which has a significant NI 43-101compliant defined resource, and is developing a 250-350 MW mouth-of-mine thermal power station, the Mbeya Coal to Power Project ("MCPP"), previously called the  Rukwa Coal to Power Project ("RCPP"), with an established management team that includes ABSA / Barclays as Financial Advisor. Kibo has completed a Coal Mining Definitive Feasibility Study and a Power Pre- Feasibility Study for the Mbeya project and has recently announced the completion of an Integrated Bankable Feasibility Study report for the project. On 25 August 2016, Kibo signed an Agreement with China based EPC contractor SEPCO III granting it the right to become the sole bidder for the EPC contract to build the power plant component of the MCPP in exchange for SEPCO III refunding 50% of the development costs incurred by Kibo to date on the project.  Kibo has already received the first tranche of this funding in the amount of US$1.8 million on the 5^th September 2016 and signed an EPC contract with SEPCO III on the 19^th December 2016.

The Company also has extensive gold focused interests in  Lake Victoria Goldfields of northern Tanzania,  including 100% owned projects with a 515,000 oz. JORC compliant gold Mineral Resource at the Imweru Project and a 240,000 oz. JORC compliant gold Mineral Resource at the Lubando Project. The Company is currently undertaking a Definitive Feasibility Study on its Imweru Project.

Kibo also holds the Haneti Project on which the latest technical report confirms prospectivity for nickel, PGMs, gold and strategic metals including lithium.

The Company's projects are located in the established and gold prolific Lake Victoria Goldfields  and the Mtwara Corridor in southern Tanzania where the Government has prioritized infrastructural development attracting significant recent investment in coal and uranium. The Company has a positive working relationship with the Tanzanian government at local, regional and national levels and works hard to maintain positive relationships with all communities where company interests are held. The Company recognizes the potential to enhance the quality of life and opportunity for Tanzanian citizens through careful development of its projects.

Updates on the Company's activities are regularly posted on its website www.kibomining.com

Johannesburg

06 March 2017

Corporate and Designated Adviser

River Group

 

END

 

 

NRAXQLFBDXFZBBQ