Following a week of follow-up meetings with government departments and other Tanzanian stakeholders regarding the further development of the Mbeya coal to power project (MCPP), Kibo Mining has reported that there is no identified adverse impact on the further development of the MCPP as a result of recent changes in the legislative environment.
Further, on the basis of these discussions, Kibo does not anticipate any future adverse impact on the development of the MCPP, however the company will be diligently reviewing its position on this matter going forward.
In a company announcement, Kibo reiterated that the completion of the Mbeya coal special mining right application remains on schedule as does the environmental certification of the Mbeya coal mine and Mbeya power plant.
Further high level workshops and meetings will now take place as part of the recently announced priority development schedule for the MCPP and the Company looks forward to updating shareholders in due course.
Louis Coetzee, CEO of Kibo Mining, commented: “As far as continued progress in the development of the MCPP is concerned, we have not seen any slowdown or hesitation from the Tanzanian government or regulatory authorities as a result of the recent legislative changes. As stated before it is business as usual for Kibo, while we continue to study the latest amendments to the mining act to understand any possible impact these may have on Kibo and its projects We will continue to keep the market updated”.