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Kibo receives Definitive Mining Feasibility Study

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World Coal,

The final report for phase one – stage one of the Definitive Mining Feasibility Study for Kibo Mining’s Rukwa coal-to-power project (RCPP) in Tanzania has been received, according to a company press release.

“We are pleased that Minxcon Projects, our appointed independent consultant, has been able to deliver this key report on schedule,” the company said. “We are also extremely pleased to confirm that the findings of the report – notable in respect of the anticipated deliverable margin per tonne and overall estimated profitability of the coal mining element of the RCPP – are significantly ahead of the company’s earlier expectations.”

The company is currently reviewing the findings of the report and is expected to release an update for shareholders shortly. A Power Prefeasibility Study is also underway for the minemouth power plant part of the RCPP and should be received shortly.

Kibo Mining is one of a number of companies developing coal-to-power projects in southwest Tanzania.

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