Kibo Mining Plc Duplicate Announcement (6890O)
21 May 2018 - 5:02PM
UK Regulatory
TIDMKIBO
RNS Number : 6890O
Kibo Mining Plc
21 May 2018
Kibo Mining Plc (Incorporated in Ireland) (Registration Number:
451931)
(External registration number: 2011/007371/10) Share code on the
JSE Limited: KBO
Share code on the AIM: KIBO ISIN: IE00B97C0C31
('Kibo' or 'the Company')
Dated: 21 May 2018
Kibo Mining Plc ('Kibo' or the 'Company')
Duplicate RNS
The RNS announcement numbered 6559O released at 7:00am was a
duplicate announcement and should be disregarded. Investors should
refer to RNS 6489O titled "Final Lot of EPC Contract Signed on
MCPP" published at the same time.
*Ends*
For further information please visit www.kibomining.com or
contact:
Louis Coetzee louisc@kibomining.com Kibo Mining Plc Chief Executive Officer
Andreas Lianos +27 (0) 83 4408365 River Group Corporate Adviser
and Designated Adviser
on
JSE
Ben Tadd / +44 (0) 20 3700 SVS Securities Joint Broker
Tom Curran 0093 Limited
Jon Belliss +44 (0) 20 7399 Novum Securities Joint Broker
9400 Ltd
Andrew Thomson +61 8 9480 2500 RFC Ambrian Limited NOMAD on AIM
Isabel de Salis +44 (0) 20 7236 St Brides Partners Investor and Media
/ Priit Piip 1177 Ltd Relations Adviser
Notes to editors
Kibo is a multi-asset resource development and energy company
with a long-term goal of becoming a leading power producer in
Sub-Saharan Africa. The Company aims to tackle the acute power
deficit which is severely hindering economic development in the
region.
Kibo's flagship asset is the Mbeya Coal to Power Project
('MCPP') in Tanzania, which comprises the Mbeya Coal Mine, a 1.5Mt
p/a mining operation, and the Mbeya Power Plant, a 300MW mine-mouth
thermal power station. The Mbeya Coal Mine has a defined 120.8 Mt
NI 43 101 thermal coal resource. A Definitive Feasibility Study has
been conducted on the project which underpinned its value and
confirmed an initial rate of return of 69.2%. The 300MW
mouth-of-mine thermal power station has long term scalability with
the potential to become a 1000MW plant. The completed full Power
Feasibility Study highlighted a power output target of 1,800 GWh/a
based on annual average coal consumption of 1.5Mt. An Integrated
Bankable Feasibility Study report for the entire project indicated
total potential revenues of US$ 7.5-8.5 billion over an initial
25-year mine life, post tax equity IRR between 21-22%, debt
pay-back period of 11-12 years and a construction period of 36
months.
To assist in the execution of this critical power project of the
MCPP, Kibo has assembled an international team of advisors and
partners including Engineering Procurement and Construction ('EPC')
contractors and financial teams that are assisting in the
advancement and development of the MCPP. These include
ABSA/Barclays as Financial Advisor, China based EPC contractor
SEPCO III, General Electric, Tractebel Engineering (Power), Minxcon
Consulting (Mining) and legal advisors Norton Rose Fulbright.
Kibo also has an 85% interest in the Mabesekwa Coal Independent
Power Project ('MCIPP'), a nearly identical power project in
Botswana. The project consists of 300Mt subset of the current
in-situ 777Mt Coal Resource and has water and land use permits and
environmental certification in place. A Pre- Feasibility Study on
the coal mine has been completed, as has a Scoping Study, which
highlight the power plant having a maximum capacity of 600MW
(4x150MW) based on a coal delivery rate of 3.2Mtpa and a Life of
Mine of over 30 years.
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
MSCKMGZKVMZGRZG
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