MCPP Successfully Completes Phase 1 of ESIA Study

RNS Number : 6501Y

Kibo Mining Plc

19 May 2016

 

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")

19 May 2016 

Mbeya Coal to Power Project Successfully Completes Phase 1 of Environmental and Social Impact Study

Kibo Mining plc ("Kibo" or the "Company") (AIM: KIBO; AltX: KBO), the Tanzania focused mineral exploration and development company is pleased to announce that Phase 1 of the Mbeya Coal to Power Project ("MCPP") Environmental and Social Impact Assessment ("ESIA") was successfully completed upon receiving notice from the Tanzanian Government that the ESIA studies for the Mbeya Coal Mine and Mbeya Power Plant have both been accepted and officially registered.

Environmental Certification for the MCPP requires that the Mining and Power components must be registered as separate ESIA's, whilst successful registration requires the submission of a comprehensive project specific ESIA brief and official registration documentation. Successful registration is in turn dependent on the applicant's ability to demonstrate a comprehensive understanding and insight into all the project specific and general environmental issues that will and could have an environmental impact, as per the Tanzanian EIA and Audit Regulations and guidelines. Following a review of the submitted ESIA briefs and registration documents, the National Environmental Management Council ("NEMC") reached a decision that the MCPP-application (Mining and Power) met with all the required criteria for registration and acceptance and may continue with the rest of the assessment. Phase 2 of the ESIA has already commenced, with most of the specialist studies that are required for Phase 2 nearing completion.

 Louis Coetzee, CEO of Kibo Mining plc said "We are very pleased with progress on the ESIA and particularly with the fact that the registration was accepted at the first attempt. ESIA registrations frequently fail on the first attempt and can become a significant delay factor. Our strong and cooperative relationship with the Tanzanian government coupled with our understanding of the process has enabled us to expedite this stage of the project. We have already commenced preparatory work for Phase 2 ahead of submitting the final ESIA to the NEMC. The ESIA is the third key component, alongside the Mining and Power Definitive Feasibility Studies, for the Integrated Bankable Feasibility Study."

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
Daniel Thöle / 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  43-101 compliant defined resource, and is developing a 250-350 MW mouth-of-mine thermal power station, the Mbeya Coal to Power Project ("MCPP"), previously called Mbeya Coal to Power Project ("MCPP"), with an established management team that includes Standard Bank as Financial Advisor.  Kibo is undertaking a Coal Mining Definitive Feasibility Study and a Power Pre-Feasibility Study for the Mbeya project with an integrated Bankable Feasibility Study report for the MCPP to be released in the near term. On 20th April 2015, Kibo signed a Joint Development Agreement for the completion of the Definitive Feasibility Studies and development of the MCPP with China based EPC contractor SEPCO III.

The Company also has extensive gold focused interests including Lake Victoria Goldfields and Morogoro projects. At Lake Victoria, the Company has projects with a 550,000 oz. JORC compliant gold Mineral Resource at Imweru Project and a 168,000 oz. NI 43-101 compliant gold Mineral Resource at the Lubando Project in which the Company holds a 90% attributable interest. 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.

Kibo Mining further holds the Pinewood (coal & uranium) project where the company has entered into a 50/50 Exploration Joint Venture with Metal Tiger plc.

Finally, the Company also holds the Morogoro (gold) project where the company has also entered into a 50/50 Exploration Joint Venture with Metal Tiger plc.

The Company's projects are located in the established and gold prolific Lake Victoria Goldfields, the emerging goldfields of eastern Tanzania 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

19 May 2016

Corporate and Designated Adviser

River Group

 

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