Mbeya Coal to Power Project (“MCPP”)

Mbeya Coal to Power Project (“MCPP”)2019-04-09T09:39:42+00:00

Project Description

Key Facts

  • Project Type | Development of coal mine and associated thermal power plant

  • Location | Songwe Region, Tanzania

  • Development Stage | Project Fully Developed and funding ready subject to appropriate statutory certification and commercial agreements

  • Kibo’s Interest | 100%

  • Mineral Resource | Kibo has 100% interest in a 120 Mt Coal Resource (Rukwa)

  • Technical Partners | SEPCOIII (EPC power plant & power transmission contracts awarded), GE (OEM to EPC Contractor and collaborative agreement), Tractebel Engie & Minxcon

  • Next Steps |

    1. Develop market for the project

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Project Details

Mbeya is in the Songwe Region of Tanzania and covers approximately 2,000 sq. km.  The future Mbeya Coal Mine will be developed around a stated 120.8 Mt NI 43 101 thermal Coal Resource. A Definitive Feasibility Study has been conducted on the mining project which underpins its value with an indicated IRR of 69.2%. The 300 MW mouth-of-mine thermal power station has long term scalability to approximately 1000MW, with a full Power Feasibility Study that has been completed, highlighting an annual power output target of 1840 GWh based on annual average coal consumption of approximately 1.5 Mt. An Integrated Bankable Feasibility Study report for the integrated project indicated total potential revenues of US$ 7.5-8.5 billion over an initial 25-year mine life, post tax equity IRR between 21-22%, debt pay-back period of 11-12 years and a construction period of 36 months.

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