Tanzania adds Rukwa project to National Energy Strategy – Kibo
The Tanzanian Ministry of Energy and Minerals (MEM) has included Kibo Mining’s Rukwa coal-to-power project as a strategic component of the Tanzanian government’s National Energy Strategy, the coal explorer said last week.
The MEM would undertake to “participate proactively in procuring the establishment of this vital infrastructure node in the Mbeya region” and confirmed its support for the expedited development of the project, Kibo pointed out in a statement to shareholders.
The Rukwa project is situated close to the Mtwara Corridor – an area in which government has committed to infrastructure development and which has seen recent multimillion-dollar investment in coal, coal-fired power stations and uranium exploration.
The most recent discussions between Kibo and the MEM would now allow the company to conclude the final selection process for a development partner acceptable to the company as well as the State.
Kibo CEO Louis Coetzee said the inclusion of Rukwa in the National Energy Strategy was the company’s most significant milestone since its readmission to the London Stock Exchange’s Aim in 2010.
“The Rukwa project is intended to be one of the cornerstones of a regional infrastructure development node on the western gateway of the Mtwara Corridor, and we are honoured to have this opportunity to continue to build value for our shareholders and the people of Tanzania,” he commented.
Kibo is currently developing five project areas in Tanzania, of which the Rukwa coal project is the most advanced.
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