JOHANNESBURG (miningweekly.com) – Dual-listed Kibo Mining has entered into a loan facility with Sanderson Capital Partners for up to £1.5-million to be used for contingency funding.
“The Mbeya coal-to-power project (MCPP) is progressing at an expeditious pace. We are now only a few months away from expected completion of the definitive feasibility studies for both the mining and power elements of the MCPP and at an advanced stage with the MCPP commercial arrangements and agreements.
“Kibo has also retained 100% ownership of the MCPP and has cultivated growing support and interest from the Tanzanian government and other strategic stakeholders,” said Kibo CEO Louis Coetzee.
He added that, with the £1.5-billion of funding, the company could focus its attention on an exciting six months ahead.