Investers are invited to invest in mineral sector
The first need of this sector is the organisation of an adequate prospecting survey to pin down the potential and the areas for
gemstone mining before actual exploitation begins. The availability of industrial materials like Gold, limestone, mica and graphite call for exploitation capital.
The Morogoro Project comprises mineral tenements (prospecting licences, offers and applications) covering an area of approximately 1,400 square kilometres and is located within the Morogoro Region of Tanzania. The tenement blocks are located south and west of the regional town of Morogoro Access is by a network of gravel and tarred roads in varying stages of repair linking to the well maintained and busy central east-west Dar es Salaam to Dodoma road.
On 19 January 2015, Tanzania focussed exploration and development company Kibo Mining Plc (“Kibo” or the “Company”)(AIM: KIBO; JSE AltX: KBO) announced that it had entered into a Memorandum of Understanding for a 50/50 Joint Venture with Metal Tiger plc (“Metal Tiger”) on its Morogoro South gold-prospective exploration portfolio in Tanzania (“Morogoro Portfolio”) wholly owned by Kibo Jubilee Ltd (Cyprus) (“Jubilee”).
“Kibo Mining is pleased to confirm that the Morogoro Joint Venture with Metal Tiger is now proceeding. This transaction means that all five of Kibo’s projects are now active and thus have the potential to deliver value for our shareholders.
Whilst for some time Kibo Mining has been focused on the Company’s lead projects at Rukwa Coal to Power, Imweru / Lake Victoria Goldfields and Haneti Nickel, we have always considered the Morogoro Gold licence portfolio to be highly prospective and able to add further considerable value for shareholders with appropriate exploration and development progress