Kibo’s shares rise as Mbeya coal mine recommended for special mining licence

Aim- and JSE-listed Kibo Energy’s share price on the LSE increased by 10.69% on Wednesday morning after the company announced that the Mbeya coal mine, which comprises the mining component of the Mbeya coal-to-power project (MCPP), has been recommended for the grant of a special mining licence (SML) from the Mining Commission of Tanzania. Kibo has also submitted a request to the Tanzania Electricity Supply Company (Tanesco) for further clarification on the potential impact of the tender process for coal power projects on Kibo’s ongoing power purchase agreement negotiations with Tanesco.