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Kibo Mining Plc wins GE Innovation Award for Mbeya project

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World Coal,

Kibo Mining plc, the Tanzania focused mineral exploration and development company, has won the Innovative Project Development Deal of the Year 2017 at the General Electric awards held in New York, US, on 7 September 2017.

Louis Coetzee, CEO of Kibo Mining, said: “We are thrilled to receive this recognition from General Electric Africa in relation to the Mbeya Coal to Power Project. With innovation, we have been able to improve the economic viability of the Project, which is crucial to Tanzania’s energy dynamic. We are receiving strong endorsements from the corporate, financial and political arenas as we look to deliver an exceptional project for the benefit of all stakeholders. Furthermore, we welcome the challenge to set the benchmark for innovation in the resource sector, which will not only benefit our Tanzanian power project but the industry more generally.”

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 plant, the Mbeya coal to power project, previously called the Rukwa coal to power project, with an established management team that includes ABSA / Barclays as Financial Advisor.

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