Kibo Mining to continue with development of Mbeya coal to power project (MCPP)
Kibo Mining, a Tanzania focused mineral exploration and development company has received written reconfirmation for expedited development of the MCPP.
The letter received by Kibo Mining follows a period during which the Ministry of Energy and Minerals has been the subject of in depth policy reviews and management changes.
“We are very pleased with the latest response from the Ministry of Energy and Minerals, following recent policy and structural changes at the Ministry of Energy and Minerals and TANESCO, says Kibo Mining CEO, Louis Coetzee.
“The process of negotiating and agreeing a final power purchase agreement should now progress at a considerably faster pace than over preceding months, as this remains the key to completing development of the MCPP,” he continues.
“We are particularly encouraged by the Ministry of Energy and Minerals’ acknowledgement of the very advanced development status of the MCPP and its key role as a strategic regional power hub able to tackle the unique challenges faced by the Tanzania energy sector at all levels, thereby providing a catalyst for further economic development.”