Kibo Mining has signed a memorandum of understanding with General Electric International Inc for the development of the Mbeya coal to power project.
The MOU provides for GE and its affiliate companies to supply equipment, technology and services to the MCPP power plant, in addition to exploring opportunities where it can assist Kibo in bringing the Project to successful financial close.
Kibo and GE are in discussions to set out in detail the terms and conditions of their collaboration into a binding agreement.
Kibo Mining chief executive Louis Coetzee said: "We are extremely pleased that we have established this relationship with GE, one of the largest and technologically advanced companies in the World. We are looking forward to working with GE and benefiting from its expertise and reputation in the power sector."