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Kibo proposes name change as it intensifies focus on energy projects

25th June 2018

By: Anine Kilian

Contributing Editor Online

     

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Dual-listed Kibo Mining is seeking shareholder approval to change the name of the company to Kibo Energy.

The company said in a statement on Monday that the proposed name change was part of a number of resolutions that would be put forward at its annual general meeting, taking place on July 1.

Kibo has, in recent months, acquired new energy projects and disposed of its interests in gold and nickel assets as it intensifies its focus on the coal-fired power market.

The company, which is developing the Mbeya coal-to-power project, in Tanzania, in April acquired an 85% interest in the Mabesekwa Coal Independent Power Project, in Botswana.

Earlier this month, it also entered into a joint venture agreement with Termoeléctrica de Benga, in Mozambique, to potentially develop the Benga independent power project.

Kibo, in 2017, created a spin-off company, Aim-listed Katoro Gold, to hold its Tanzanian gold assets and, last week, sold its Kibo Nickel subsidiary, which holds the Haneti nickel project, in Tanzania, to Katoro.

Edited by Chanel de Bruyn
Creamer Media Senior Deputy Editor Online

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