Progress in coal power project

Accelerate chief operating officer Andrew Costa said the past year was important for the company as it diversified its portfolio offshore by creating a bespoke strategy to invest in long-term single-tenant net leased properties that were strategic to blue-chip multinational or large regional tenants in Central and Eastern Europe. Costa said it had also made excellent progress locally with the Fourways Mall redevelopment.

Shares in Accelerate dropped 7.9 percent yesterday to close at R6 on the JSE. KIBO MINING said yesterday that a series of meetings held with the key Tanzanian stakeholders in the Mbeya Coal to Power Project (MCPP) had resulted in significant progress for the further development of the project. Kibo is developing a 250 to 350MW mouth-of-mine thermal power station in its power and coal mine elements in south-western Tanzania. The Tanzaniafocused mineral exploration and development company said a recent request for an expedited development of the MCPP was followed by active interaction between all stakeholders which culminated in a series of progress meetings held this week. Among key developments was an agreement on a clear agenda and associated schedule with relevant government stakeholders to work on specific development aspects of the MCPP that are dependent on negotiating with government. Kibo said the environmental and social impact assessment submissions and the special mining licence application for the Mbeya coal mine and Mbeya Power station had also been duly processed for certification and were now awaiting final approval. There was also engagement with the Ministry of Energy and Minerals. – ANA TIGER BRANDS