Kibo Energy touts progress on power purchase agreement with Baobab Resources

Thu, 17th Dec 2020

Kibo Energy said it had submitted the draft power purchase agreement and was in talks on power requirements for the first phase of the Baobab Tete steel project. Draft agreement for the supply of 200MW power from the Benga power station to the Baobab Tete steel project was submitted and currently in progress. Discussions were ongoing on auxiliary power requirements for the first phase of a 250,000 tpa steel rolling mill of the steel project, on a build, own and operate basis, the company said. 'The potential addition of auxiliary power for the Baobab project could provide an ideal opportunity to leverage the company's knowledge and expertise in Mast Energy Developments, it added. At 9:49am: (LON:KIBO) Kibo Mining share price was 0p at 0.22p Story provided by StockMarketWire.com

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