20 Sep Kibo Mining signs deal with GE for Tanzania power project
Tanzania-focused Kibo Mining (AIM:KIBO) has announced a deal with GE (NYSE:GE) to develop the Mbeya project.
The agreement will see GE supply equipment, technology and services to the Mbeya Coal to Power Project (MCPP). GE will also support Kibo in bringing the project to successful financial close.
The GE deal comes day after Kibo announced it had secured the first tranche of funding of US$1.8 million from Chinese major SEPCO from a deal signed in August.
Louis Coetzee, Kibo Mining CEO 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.”
Both announcement represent significant steps in the potential development of the Mbeya project.