StockMarketWire.com - Kibo Energy confirmed the Tanzanian government had cancelled a coal-fired power project tender for which it had submitted a bid.

After making further inquiries to the government, the company said it understood the the tender was definitely still going ahead.

'There are however certain procedural amendments required to the process before the tender can proceed,' Kibo said.

'It is expected that these procedural amendments will be announced shortly and without any effect on the expected timeline for completion of the tender process.'

Chief executive Louis Coetzee said the delay was unfortunate but not out of the ordinary for a complicated tender process.

'We are looking forward to resuming the tender process shortly,' Coetzee said.




At 1:14pm: [LON:KIBO] Kibo Mining share price was -0.35p at 1.8p



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