MCPP Purchase Agreement Update
05 April 2018
Kibo Mining Plc (AIM:KIBO; AltX:KBO), the multi-asset Africa-focused energy and resource company, is pleased to announce that the Company has received confirmation from the Tanzania Electric Supply Company (‘TANESCO’) today that a work session for the full Power Purchase Agreement (‘PPA’) task team, has been convened for Tuesday 10 April 2018.
This work session of the full PPA task team, consisting of representatives of Kibo and TANESCO, has been convened to finalise work on the various key deliverables stipulated under the MCPP MOU (See RNS of 14 February 2018) to date. The meeting will also review the overall progress and remaining deliverables and milestones stipulated in the MCPP MOU and discuss and agree steps and measures where necessary, to ensure that the MOU timeline and action plan is executed in accordance with what has been agreed therein.
Kibo’s CEO Louis Coetzee said: “We are very pleased with the co-operation and commitment from TANESCO in advancing the PPA process since signing the MOU, despite extraordinary challenges experienced by TANESCO over the past three months in particular.
This work session of the full PPA task team follows a period of work by the task team that commenced immediately after signing of the MOU and during which we expect to bring their efforts together in positive and productive results in respect of the agreed deliverables stated in the PPA MOU.”