Kibo Mining has confirmed a meeting on 8 January between itself and TANESCO to finalize the Mbeya coal to power project Memorandum of Understanding.Accordingly, Kibo Mining remains optimistic that the MoU will be completed as announced on 18 December 2017.
It should be noted that the Tanzanian holidays differ from the United Kingdom, with fewer 'working days' over the Christmas period.
Kibo Mining had arranged to present at a Proactive Event in London on 11 January 2018, however, the meeting with the Ministry of Energy has taken precedence and accordingly Kibo has postponed its attendance at the event.
"Given the continued urgency by the Ministry of Energy to fast-track the Mbeya coal to power project as the Tanzanian Government focuses on delivering 5 GW installed generation capacity by 2020 with a further 7 GW to be added in the following five years, we remain optimistic for 2018," states Kibo Mining CEO, Louis Coetzee.
During the year, we anticipate hitting various value trigger points regarding the Mbeya coal to power project including the completion of the MoU and the final power purchase agreement during Q1, and look forward to building Kibo as a strategic regional electricity supplier."
Feature image credit: Wikimedia