Help Desk -
9717405332, 9599714297, 9810335381
Email
Password

Kibo Energy Granted 7 Mining Licences for Coal to Power Project in Tanzania

Coal News - Published on Mon, 19 Aug 2019

Image Source: Vox Markets
Share Cast reported that Africa-focussed energy company Kibo Energy has been granted seven mining rights for its Mbeya Coal-to-Power Project in Tanzania. It was continuing to advance the MCPP - one of its four international power projects - which it said represented an “exciting” opportunity.

As a result, the application process for seven mining licences covering the original special mining licence application area had been completed by the Mining Commission, and an offer letter for each application was issued to Kibo's wholly-owned subsidiary, Mbeya Coal, each of which it had subsequently accepted.

Kibo Energy said that constituted the approval and granting of the mining license applications, subject to Kibo remitting all required statutory payments related to the issuance of the rights.

However, The MCPP has a 120.8 million tonne thermal coal resource covered by the seven mining licences now granted. A definitive feasibility study confirmed the economic viability of the mining project, with an indicated internal rate of return of 69.2%.

Source :

Posted By : Sanju Moirangthem on Mon, 19 Aug 2019
Related News from Coal segment