04 May 2016
Kibo Mining plc (“Kibo” or the “Company”) (AIM: KIBO; AltX: KBO), the Tanzania focussed mineral exploration and development company is pleased to announce results from the Power Definitive Feasibility Study (“PDFS”) for the Mbeya Coal to Power Project (“MCPP”). This announcement should be read in conjunction with previous RNS statements dated 18 and 30 December 2014 reporting on the completed Power Definitive Pre-Feasibility Study, as well as the most recent announcement dated 29 April 2016.
Key Highlights
The PDFS report was prepared by Tractebel Engineering on behalf of the Company. Key findings include:
- Primary base case recommended by the Power Pre-Feasibility Study (“Power-PFS”), i.e. Circulating Fluidized Bed boiler technology, 300MW configured as 2 x 150MW units, accepted as optimal selection for final design of the Mbeya Power Station;
- Pre-Feasibility Study annual production target of 1 840 GWh confirmed;
- Annual average coal consumption confirmed at 1 497 432 tonnes per year, utilising Run-of Mine (“ROM”) product from the co-located mine site and within mine design parameters;
- Total estimated project cost confirmed well below cost estimate stated in Power-PFS;
- Minor technical concerns identified during Power-PFS were all eliminated during the PDFS;
- Based on recently restated Mbeya coal resource, the PDFS includes provision for near-term expansion of the power station to at least 600MW;
- Positive PDFS results will further improve the already strong financial feasibility figures of the MCPP; and
- Receipt of final PDFS-report initiates final development phase of the MCPP financial model, required for the integrated MCPP Bankable Feasibility Study.
Download Full Report
[ott_teaser btn_text=”Download” btn_icon=”icon-right-big” btn_url=”https://kibo.energy/wp-content/uploads/Final-RNS_MCPP-PDFS_8th-Update_V3.0_0405162.pdf” btn_target=”_blank”]Results for Power Definitive Feasibility Study – Mbeya Coal to Power Project[/ott_teaser]