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Kibo Energy agrees to supply coal Benga power plant project
StockMarketWire.com
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Kibo Energy said it has agreed with Vale Mozambique SA to supply coal to the Benga power plant project in Mozambique.
The companies have entered into an agreement that will meet the full operational coal requirement of a 150 megawatt coal fired power plant.
Kibo said Lesedi Nuclear Services has completed its feasibility study of the Benga project, which will be delivered to Kibo in early January 2021.
Louis Coetzee, chief executive of Kibo Energy, said: We are extremely pleased with the progress on the Benga project, as the technical work is now nearing completion and seamlessly integrates with the commercial and statutory developments.
'The ongoing and increasingly negative impact of Covid-19 has caused numerous delays during the past year, most notably regarding the inability to travel freely and conduct on-site work in an unfettered manner.
'Despite these constraints the Benga project made significant strides forward during 2020 and we have been able to sustain forward momentum and in fact gain significant new momentum towards the end of 2020. It is with this momentum that we will be entering 2021 and with firm confidence that the Benga project can still be delivered within the broad timelines discussed in previous announcements.
At 2:29pm: (LON:KIBO) Kibo Mining share price was 0p at 0.22p
Story provided by StockMarketWire.com
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