- Kibo Energy said it had made positive progress in the licencing process for its Mbeya coal-to-power project in Tanzania.

A previous special licence application had been converted to seven mining licence applications in the interest of a better economic outcome for stakeholders.

'We are very encouraged by the latest developments in respect of our ML-application, which is the product of constructive and co-operative interaction with the mining commission,' chief executive Louis Coetzee said.

'The conversion of the SML-application into seven ML-applications demonstrates the willingness and commitment of the mining commission to cooperate with investors under the latest mining legislation and to find practical solutions in the interest of all stakeholders in order to stimulate the mining industry in Tanzania.'

'The change in approach with regard to the ML-application has also provided further clarity with regard to ongoing development of the MCPP in general and will afford the MCPP with a very welcome gain in forward momentum.'

At 3:02pm: [LON:KIBO] Kibo Mining share price was +0.1p at 0.93p

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