Tanzania Seeks International Investments

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Kibo Mining Plc has added its name to the attendees of the Tanzania International Forum for Investments in Dar Es Salaam on 25 September 2016.
Participating in the Energy and Power Session, chief executive officer (CEO) Louis Coetzee will be speaking alongside Frederick Shindika, CEO of Serenity Investment Partners; Felichesmi Mramba, managing director of TANESCO; and Boniface Njombe, general manager of the Tanzania Geothermal Development Company.
“The energy gap in Tanzania continues to hinder efforts towards economic transformation. Kibo’s Mbeya coal-to-power project is a critical project in the government’s plans to close this power deficit, which is key to Tanzania’s future growth,” Coetzee said.
“Rapid progress at the project continues as we work towards first production in 2019. Strong results from the definitive power feasibility study and definitive mining feasibility study have confirmed the robust fundamentals of the project. We are now in the final stages of the integrated bankable feasibility study and are working closely with the Tanzania government to finalise the already approved MOU with TANESCO,” he added.
Shares in Kibo were up 2.1% in the first hour of trading.
Source-ProactiveInvestors
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