10th Nov 2014 09:04
LONDON (Alliance News) - Kibo Mining Monday said it has appointed Aurecon Group Brand (Pte) Ltd to conduct a pre-feasibility study for the Rukwa coal-to-power project in South Africa.
Kibo shares were down 6.9% Monday morning at 1.19 pence per share.
Aurecon provides engineering, management and specialist technical services for public and private sector clients globally and will carry out the pre feasibility study on the 300 megawatt power plant as Kibo continues to try and accelerate the development of the Rukwa project.
After its appointment, Aurecon undertook a review of historically gathered information and it has committed to delivering a full pre-feasibility study in early December 2014, said Kibo.
"This accelerated delivery matches our desire to progress the Rukwa coal to power project on an expeditious timetable and further supports the veracity and value of the project in the face of finalisation of discussions with strategic project partners," said Chief Executive Louis Coetzee.
By Joshua Warner; [email protected]; @JoshAlliance
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