26 May 2015
Kibo Mining plc (“Kibo” or the “Company”) (AIM: KIBO; AltX: KBO), the Tanzania focussed mineral exploration and development company is pleased to provide the market with a progress update for the Rukwa Coal to Power Project, Phase 2, Stage 1, Definitive Mining Feasibility Study (“DMFS”), and a formal renaming of the project, to better reflect the regional scale and size of the project.
Highlights
- DMFS remains on schedule and well within budget;
- Trade–off studies identify potential for significant operating expenditure (“OPEX”) reduction increasing project value and profitability potential;
- Blasting not required during the mining process with total over burden and inter-burden minable through free–digging, materially decreasing OPEX;
- Surface Continuous Miner proves to be feasible mining method;
- Rukwa Coal to Power Project (“RCPP”) renamed to Mbeya Coal to Power Project (“MCPP”), with immediate effect.
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[ott_teaser btn_text=”Download” btn_icon=”icon-right-big” btn_url=”https://kibo.energy/wp-content/uploads/Final-RNS-MCPP-PFS-Update-2-V3.2-25052015.pdf” btn_target=”_blank”]Rukwa Definitive Mining Feasibility Study: Update & Project Name Change to Mbeya Coal to Power Project[/ott_teaser]