Dual-listed Kibo Energy has been granted seven mining rights for its Mbeya coal-to-power project (MCPP), in Tanzania.
The granting of the mining licences, which gives Kibo access to 120.8-million tonnes of coal resources, allows for the start of commercial mining activity at MCPP.
“The successful delivery of the MCPP is gaining momentum.
“Receiving these seven mining rights to enable commercial mining activity is another key milestone, which we anticipate will provide a better economic outcome for all concerned stakeholders and further clarity regarding the project’s ongoing development, especially when the continued progress that has been made recently in securing offtake for the Mbeya power plant is considered as well,” Kibo CEO Louis Coetzee said in a statement issued on Thursday.