Aim-listed Kibo Mining on Thursday reported a maiden South African Code for the Reporting of Exploration Results, Mineral Resources and Mineral Reserves-compliant resource of 302.9-million tonnes at its 85%-owned Mabesekwa Coal Independent Power Project (MCIPP), in Botswana.
Feasibility studies on the MCIPP and Mabesekwa coal resource were advanced, with water and land use permits and environmental certification already in place, and a prefeasibility study on a coal mine and a scoping study on a coal-fired thermal power plant completed.
"With water and land use permits and environmental certification in place, as well as a prefeasibility study on the coal mine and scoping study on the power plant, we see a clear development path with deliverables that will increase the inherent value of the Project,” CEO Louis Coetzee said in a statement.
Kibo bought the 85% interest in the MCIPP from Shumba Energy in late 2017.