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Kibo receives draft of Mbeya financial model

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World Coal,

Tanzania-focused mineral exploration and development company, Kibo Mining, has received an advanced draft of the integrated financial model for the Mbeya coal-to-power project (MCPP) from its financial advisors.

“Initial results from the MCPP integrated financial model reconfirm the MCPP as a very robust project with strong economic, operational and technical integrity,” said Louis Coetzee, CEO of Kibo Mining.

“We have seen a significant improvement on the results from the internal integrated financial model that was prepared after completion of the prefeasibility study for the MCPP power plant and coal mine respectively.”

Final negotiations related to the EPC and OEM contracts are currently underway in Qingdao, China, with SEPCO III and GE. According to a company press release, these negotiations should be concluded by 2 December 2016 with a EPC/OEM agreements scheduled for signature by the end of the year.

The financial model will now be subject to extensive review and further adjustment, based on the results from the final negotiations with SEPCO III and GE.

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