https://www.miningweekly.com

Kibo reaches net smelter royalty agreement with Acacia

22nd July 2016

By: Megan van Wyngaardt

Creamer Media Contributing Editor Online

  

Font size: - +

JOHANNESBURG (miningweekly.com) – Dual-listed Kibo Mining has reached an agreement with Acacia Mining to convert Acacia's residual equity interests in the Imweru and Lubando projects, in Tanzania, to a 2% net smelter royalty.

The agreement was signed between Reef Miners, Kibo's wholly-owned Tanzanian subsidiary, which holds the project licences, and ABG Exploration, Acacia's Tanzanian subsidiary, which holds the equity interests in the licences.

The agreement gives Kibo 100% ownership in the equity of the projects and represents another important component of the definitive agreement with Lake Victoria Gold (LVG) to consolidate the companies' respective Imweru and Imwelo gold projects.

Kibo CEO Louis Coetzee noted on Friday that the agreement allowed Kibo and Lake Victoria to increase value for shareholders from the planned mine development at Imweru and ensured that the consolidated Imweru/Imvelo project would be free of any contingent liabilities and unquantified obligations.

“With this agreement in place, we expect to move promptly towards execution of the definitive agreement between Kibo and LVG," he said.

To watch Creamer Media's latest video reports, click here
 

Edited by Samantha Herbst
Creamer Media Deputy Editor

Article Enquiry

Email Article

Save Article

Feedback

To advertise email advertising@creamermedia.co.za or click here

Showroom

CSIR International Convention Centre (CSIR ICC)
CSIR International Convention Centre (CSIR ICC)

CSIR International Convention Centre (CSIR ICC) - the leading conference and events venue in Pretoria/Tshwane.

VISIT SHOWROOM 
ESAB showroom image
ESAB South Africa

ESAB South Arica, the leading supplier of high-end welding and cutting products to the Southern African industrial market is based in...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Photo of Martin Creamer
On-The-Air (26/06/2026)
26th June 2026 By: Martin Creamer

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







sq:0.042 0.064s - 110pq - 2rq
Subscribe Now