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Kibo Mining has vowed to remain committed to Tanzania’s Mbeya Coal to Power Project (MCPP) project despite the company’s expansion into Botswana.
Louis Coetzee, Kibo Mining Chief Executive Officer allayed fears associated with the company shifting focusing, adding that the project is critically important.
“Nothing can be further from the truth. The MCPP is the driver of this transaction. The merit; the integrity; the strength of the MCPP; the progress we are making there are the driving forces behind our ability to go and take on other transactions.”
The MCPP is Kibo’s “flagship” project consisting of the Mbeya coal mine which will supply a 300MW power station that could be expanded to 600MW.
“It is paving the way for other projects so it is definitely not a distraction and definitely not an admission that the MCPP is a long way from completion,” Coetzee said.
Tanzania is suffering an acute shortage of power and the development of a new power station is a strategic necessity.
Kibo Mining recently purchased Mabesekwa Energy Coal project in Botswana.
