JOHANNESBURG – Kibo Mining on Friday announced that the review of the Power Definitive Feasibility Study (PDFS) had been completed successfully, clearing one more regulatory hurdle into the development 250 MW to 350 MW mouth-of-mine thermal power station, the Mbeya Coal To Power Project (MCPP), in south-western Tanzania.
The PDFS had been subject of a review process since it was completed late last month.
“The final and official PDFS report will be delivered to the company’s CEO on Monday, 2 May, during a scheduled project meeting with Tractebel Engineering,” Kibo said in a statement.
Kibo had contracted the global engineering consultancy Tractebel to conduct the DPFS.
Louis Coetzee, CE of Kibo Mining, said they were “extremely pleased” to have completed the PDFS on schedule and within budget.
“The PDFS constitutes the most important component of the MCPP and is the foundation for the MCPP’s entire business case. This milestone in the development of the MCPP is a critical achievement in advance of the financial close,” Coetzee said.
Kibo Mining, which is listed on the Aim market in London and the AltX in Johannesburg, is a Tanzania-focused mineral exploration and development company.
Through its subsidiary Rukwa Coal, Kibo Mining was granted three new prospecting licences in January to enhance the feasibility study surrounding in the block Mbeya coal deposit that contains 109-million tonnes.
The licences meant the company could test for extensions to the resource and satellite coal deposits, in addition to the existing deposit’s 48 km strike, of which only approximately 12 km has been delineated and stated to date.