Kibo to Build Tanzanian Coal Mine Earmarked for Power Generation

Bloomberg reported that Kibo Mining Plc has announced plans to build a coal mine in Tanzania with the aim of feeding a power plant that could generate up to 350 megawatts.

As quoted in the market report:

A “major Asian conglomerate” has signed a memorandum of understanding to fund, construct and operate the plant, Coetzee said. He declined to identify the company until negotiations to convert the deal into a formal joint venture are complete.

To view the whole Bloomberg report, click here.