[miningmx.com] – KIBO Mining said a feasibility study of its Tanazania coal venture – renamed Mbeya Coal to Power Project – found that over-burden at the site could be removed using free-digging and trucks instead of blasting which would reduce operating costs.
“As the studies progress and the commercial and statutory discussions reach increasing levels of maturity, the Mbeya Coal to Power Project … continues to demonstrate robust and improving project fundamentals,” said Louis Coetzee, CEO of Kibo Mining.
Coetzee added third party interest in investing directly in the project was increasing as the feasibility of the project improved. “In this regard the company remains in active discussions with various investors and now sees regular additional enquiries from new supplementary third party investment sources,” he said.
