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Kibo Energy said it had been granted seven mining rights for its Mbeya coal to power project in Tanzania.
The rights would enable commercial mining to commence, the company said.
A definitive feasibility Study confirmed the economic viability of the mining project with an indicated internal rate of return of 69.2%.
At 8:19am: (LON:KIBO) Kibo Mining share price was +0.16p at 0.98p