KIBO Mining said there was no basis for speculation that negotiations with Tanzania’s TANESCO – Tanzania Electric Supply Company – had been suspended.
It said the development of its Mbeya Coal to Power Project (MCPP) “… remains unchanged and the company is continuing to advance its discussions with TANESCO regarding the Power Purchase Agreement for the 300MW MCPP”.
In an earlier statement, Kibo Mining said it had finalised a joint venture agreement with Mozambique energy company Termoeléctrica de Benga SA regarding the development of the separate Benga Independent Power Project.
Kibo Mining, listed in London and Johannesburg, specialises in coal-to-power developments in sub-Saharan Africa.
In addition to MCPP, and the early stage footprint in Mozambique, the company is also looking at the development of a coal-to-power plant in Botswana having earlier bought control of Mabesekwa, a large coal deposit in Botswana, from Shumba Energy.
