The Tanzania focused mineral exploration and development company says that the MOU provides for the multinational conglomerate General Electric International (GE) and its affiliate companies to supply equipment, technology and services to the MCPP power plant.
In addition, the MOU will allow GE to explore opportunities where it can assist Kibo Mining in bringing the project to successful financial close.
Kibo and GE are in discussions to set out in detail the terms and conditions of their collaboration into a binding agreement.
Louis Coetzee, CEO of Kibo Mining, says: “We are extremely pleased that we have established this relationship with GE, one of the largest and technologically advanced companies in the world.”
“We are looking forward to working with GE and benefitting from its expertise and reputation in the power sector,” says Coetzee.