Kibo’s Mbeya special mining licence submissions in final stages
Following the submission of Aim- and AltX-listed Kibo Mining’s local content plan (LCP) and integrity pledge (IP) to the Mining Commission – a constituent of the Tanzania Ministry of Mines – within the next two weeks, the authority will be ready to consider Kibo’s application for a special mining licence for the Mbeya coal-to-power project.
An LCP requires that, when procuring goods and services, priority be given to Tanzanian firms, as well as that qualified Tanzanians should be considered first for employment and training opportunities.
The IP is a formal and concrete expression of commitment to abide by ethical
business practices and support a national stand against corruption.
Special mining licences in Tanzania are awarded to projects with a capital expenditure requirement in excess of $100-million, following production of a positive feasibility study and meeting all other criteria.
The licences are issued for the life-of-mine, which in Mbeya’s case is between 25 and 32 years.
The licence will be subject to a comprehensive mining development agreement with the government. On receipt of the licence, Kibo can exploit the 121-million-tonne coal resource at the Mbeya deposit, as part of its strategy to build a 300 MW mine-mouth coal-fired power station, which could potentially be expanded to 1 000 MW.
Meanwhile, Kibo anticipates submitting a mining licence application for its Mabesekwa coal independent power project, in Botswana, in the third quarter of the year.
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