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A multi-asset energy company in Africa, developing a large coal-fired power plant, has announced that a special mining license application is "ready to be considered".
Kibo Mining announced in a statement this week that the Mining Commission, a component of the Tanzanian Ministry of Mines, is "ready to consider" the company's request for the Mbeya Coal Project (MCCP).
Kibo CEO, Louis Coetzee, "This latest development in connection with the finalization of the SML for the mining component of the MCPP is welcome because we have Now a clearly defined procedure to follow under the new Mining Act in order to finalize our existing SML application.Kibo will give priority to the Mining Commission with the LCP and IP in the next two weeks , thus ensuring that our SML application is fully compliant and ready for review.With the LCP and IP rules now clearly defined and in place, there are no outstanding components to the SML application, but in In any case, Kibo has consistently complied with almost all LCP and IP requirements, even before they become mandatory.]
"I would like to express my gratitude to Kibo's staff for everythingthe work done in recent months, allowing us to enter the final stages of preparation to submit a mining permit application for the Mabesekwa project. We are optimistic that both licenses need to be approved quickly, although it should be noted that the progress of the process is not under Kibo's control. "
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] Special mining licenses are granted for projects whose Capital requirements exceed $ 100 million, following the production of a positive feasibility study and compliance with all other criteria. They are issued for the life of the mine, which in the case of Mbeya is 25 to 32 years old.
The SML will be the subject of a comprehensive mining development agreement with the government. Upon receipt of the LMS, the Company can mine the 121 Mt of coal resources in the MCWP as part of its strategy to build a 300 MW coal-fired plant, which can be expanded to 1,000 MW.
Mbeya Coal Power The project is a two-track development at Mbeya comprising a coal mine based on the existing coal resource and a 250-300 MW thermal power plant at the mine.
Kibo develops the project as a result of Tanzania's current and projected electricity generation needs. The country currently has less than 1,000 operational MW out of the required 2,000 MW and, with a projected GDP growth rate of 7% per year over the medium term (IMF projection), it is facing a growing under-capacity of production of electricity. development needs.
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