Kibo Mining plc (“Kibo” or the “Company”) (AIM: KIBO; JSE AltX: KBO), the mineral exploration and development company focused on gold, nickel, coal and uranium projects in Tanzania, announces that it has moved back to having a 100% interest in the Haneti nickel-PGM project, after Votorantim Metaís Participações Ltda (Votorantim) opted out of the joint venture with Kibo, through which it was earning into the Haneti project by funding exploration work. Votorantim’s decision followed a strategic review of its Southern Africa exploration operations.
Kibo Mining CEO, Louis Coetzee said:
“I would like to thank Votorantim for their contribution in advancing the project over the last year. The results received to date from the 2013 exploration work have confirmed the prospectivity of the project for nickel -PGM style and gold mineralization and we look forward to advancing the project from here on. A significant amount of laboratory results are still pending from the 2013 exploration work and we remain confident in the opportunity that exists at Haneti as we look to realize further value from the project and continue work towards achieving the ultimate goal of delivering a maiden JORC compliant resource. We look forward to updating the market on the results when they become available before year end. We continue to move forward with our strategy focused on progressing our asset portfolio in Tanzania, which includes our flagship Rukwa Coal to Power project and our portfolio of gold projects.”
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[ott_teaser btn_text=”Download” btn_icon=”icon-right-big” btn_url=”http://kibo.energy/wp-content/uploads/Final-RNS_Termination-of-Haneti-JV_05-12-2013.pdf” btn_target=”_blank”]Kibo Re-acquires 100% interest in Haneti Joint Venture[/ott_teaser]