JOHANNESBURG (miningweekly.com) – The technical work that forms the backbone of an integrated bankable feasibility study (IBFS) for dual-listed Kibo Mining’s Mbeya coal-to-power project (MCPP) is drawing to a close, CEO Louis Coetzee said on Tuesday.
“At this time, multiple work streams are simultaneously under way in the process of completing the IBFS on the MCPP,” he said in a statement to shareholders.
A definitive power feasibility study and the preparation for the engineering, procurement and construction (EPC) bid had been completed.
A definitive mining feasibility study was, meanwhile, on track for completion at the end of this month, while the mine design process was in the final stages and a mining EPC bid process in progress. Eight bidders are currently under evaluation.
“We continue to see strong support from the Tanzanian government and we remain confident that the various regulatory and statutory processes required will continue to keep up with the pace at which the MCPP is developing,” said Coetzee.