Recent Announcements

Home/News/Maiden SAMREC-Compliant Coal Resource Statement for Mabesekwa

Maiden SAMREC-Compliant Coal Resource Statement for Mabesekwa

21 June 2018

Kibo Mining plc (AIM: KIBO; AltX: KBO), the multi-asset Africa focused energy and resource company, is pleased to announce an update on its 85% controlled Mabesekwa Coal Independent Power Project (‘MCIPP’ or the ‘Project’) in Botswana, which it is developing with Botswana listed energy company Shumba Energy Limited (“Shumba”). The Project, which is being advanced in tandem with the Company’s Mbeya Coal to Power Project (‘MCPP’) in Tanzania and Benga Independent Power Project (‘BIPP’) in Mozambique, is a part of Kibo’s strategy of building a leading African focused power company.

Feasibility studies on the MCIPP and Mabesekwa Coal Resource (“MCR”) are advanced, with water and land use permits and environmental certification already in place and a pre-feasibility study (‘PFS’) on a coal mine and a scoping study on a coal fired thermal power plant completed. The Company has now received a Competent Persons Report (‘CPR’) on the Project, which includes a SAMREC-compliant Maiden Resource Statement on the excised 300 Mt portion of the MCR (‘Kibo Mabesekwa Coal Resource’ or ‘KMCR’).

The CPR was completed by independent geological and mining consultancy company, Gemecs (Pty) Ltd of South Africa. The highlights of the report include:

  • Maiden Coal Resource Statement for the KMCR indicating total mineable In-situ Coal Resource of 302.9 million tonnes (257.5 Mt attributable to Kibo on an 85% basis) as per the SAMREC categories below (Refer Table 1 below for detailed Coal Resource Statement);
Download Full Report

Maiden SAMREC-Compliant Coal Resource Statement for Mabesekwa

AIM Share Price
(Ticker: KIBO)
3.28p Change -0.13p
at close on 25 Sep 2018

JSE Share Price
(Ticker: KBO)
65.00c Change +0.00c
at close on 21 Sep 2018

Subscribe to Kibo Mining plc E-mail Alerts!

To ensure that you stay updated about developments at our projects, we would encourage that you register for our e-mail alerts.

If you wish to be updated, please click HERE and subscribe.