(MENAFN- ProactiveInvestors) () says SEPCO has inspected the site of the Rukwa mine and power plant in Tanzania a key condition of its joint development agreement.
The Chinese engineer visited Rukwa to help understand the scope of work required to execute and complete Stage 2 of the RCPP Definitive Feasibility Study.
SEPCO’s site visit included also included plenary meetings with the Minister for Energy and Minerals as well as senior officials of the Ministry of Energy and Minerals and related departments.
Louis Coetzee Kibo’s chief executive said: "The fact that we are able to provide the market with an update on the fulfilment of the most important condition precedent in the JDA so soon after it was signed is strong confirmation that in SEPCO III Kibo has engaged a highly professional competent and committed joint venture partner that is as serious as Kibo in pursuing the successful and timely delivery of the RCPP.
“The site visit comprised five very productive days that totally exceeded our expectations in terms of progress made on all relationship levels associated with the JDA.”
Kibo shares shot higher when it announced the JDA nine days ago. Coetzee then told Proactive that it would work on the coal mine part of the development while SEPCO would build the power plant.
Shares were little changed at 5.97p today.
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