Kibo Mining has secured an environmental and social impact assessment (ESIA) certificate for both the Mbeya coal project and the Mbeya power generation project from the Tanzanian Government.
Obtaining the certificate is said to be a key part of the Mbeya coal to power project (MCPP) approval process.
The certificate comes after the company submitted the application in February this year.
Kibo Mining CEO Louis Coetzee said: “The endorsement of the MCPP as a consequence of the ESIA certification cannot be underestimated, this is probably the most important enabler for the successful and expeditious completion of the remaining development work on the MCPP.
“Furthermore, we have had several very productive meetings with the newly established Ministry of Energy over the past two weeks, which confirmed our view that the memorandum of understanding (MoU) on the power purchase agreement (PPA) is progressing well and that it will be finalised shortly.
“Once the MoU, and thereafter the final PPA, is signed we envisage being in production in 36 months, bringing light to homes and businesses in Tanzania and making a strategic contribution towards enabling the local economy and delivering cumulative long-term value to our shareholders.”
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The MCPP is located in south-west Tanzania and is currently developing a coal mine along with a 300MW ‘mine mouth’ power station.
The project is being developed in partnership with Chinese construction and engineering company SEPCO III.