Kibo signs Memorandum of Understanding with GE
AA – Kibo Mining plc (“Kibo” or the “Company”) (AIM: KIBO; AltX: KBO), the Tanzania focused mineral exploration and development Company is pleased to announce that it has signed a Memorandum of Understanding (“MOU”) with General Electric International Inc (“GE”), with respect to the development of the Mbeya Coal to Power Project (“MCPP” or “the Project”). The MOU provides for GE and its affiliate companies (“GE Group”) to supply equipment, technology and services to the MCPP power plant, in addition to exploring opportunities where it can assist Kibo in bringing the Project to successful financial close. Kibo and GE are in discussions to set out in detail the terms and conditions of their collaboration into a binding agreement.
Louis Coetzee, CEO of Kibo Mining, said: “We are extremely pleased that we have established this relationship with GE, one of the largest and technologically advanced companies in the World. We are looking forward to working with GE and benefitting from its expertise and reputation in the power sector.”
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