Region: Kibo Mining partners with Sepco III

Kibo Mining on 3 July announced a strategic development agreement with China’s Sepco III. The deal will see Sepco III make an initial investment in Kibo of 10%-15% with an option to make a second investment of 5%-10% within 18 months. The agreement follows the award to Sepco in May of the engineering, procurement and construction (EPC) contract to build the transmission line that will connect Kibo’s 300MW integrated coal project in Tanzania to the Mbeya substation.