Encouraging Mbeya Phase 1 of Stage 2 results for Kibo Mining

Kibo Mining, a Tanzania focussed mineral exploration and development company, is pleased with its Phase 1 of Stage 2 results for the Mbeya Definitive Mining Feasibility Study (MDMFS).

This is a critical milestone in reaching the final stage of the broader Mbeya coal to power project (MCPP), Mining Feasibility Study.

Key results include:

Louis Coetzee, CEO of Kibo Mining, said: “We are very pleased with the latest results and also with the overall progress of the MDMFS. Since announcing the very first set of results from the concept study and with every announcement since, the MCPP has consistently demonstrated that it is a project with considerable financial and technical substance. This will stand us in good stead during the coming weeks when we work on finalising the power purchase agreement and other commercial agreements associated with the MCPP.”

According to Kibo, an immediate next step in the MDMFS will involve the restatement of the Mbeya coal resource. This will be based on the technical work that was done on the coal resource during the feasibility studies to date, the additional geological data gained from the geotechnical drill programme, as well as the data from earlier exploration drilling, sampling and laboratory analysis that has not yet been incorporated in the Mbeya coal resource statement.

Edited from press release by Harleigh Hobbs

Read the article online at: https://www.globalminingreview.com/exploration-development/20012016/encouraging-mbeya-phase-1-of-stage-2-results-for-kibo-mining-77/