Kibo, Sepco agree development refund for MCPP

Aim- and AltX-listed Kibo Mining and Chinese firm Sepco III have agreed that $10.94-million is a fair reflection of the Mbeya coal-to-power project (MCPP) development costs over the past four years. Upon the financial close of the MCPP, Sepco III will refund Kibo some 50%, or $5.49-million, of the final development cost incurred as part of the terms of the redefined agreement for the progression of the Tanzania-based project.