Kibo moves closer to concluding PPA, securing project financing for MCPP

Dual-listed Kibo Mining says it is near concluding a power purchase agreement (PPA), as well as securing project financing for its Mbeya coal-to-power project (MCPP) in Tanzania. A memorandum of understanding (MoU), as a precursor to a final PPA with Tanzania power utility Tanesco, has passed all the relevant legislative stages and is awaiting final confirmation from Tanzania’s Attorney General.