Kibo Mining re-takes 100 per cent of Tanzanian nickel scheme

5th Dec 2013 16:50

Tanzania-focused Kibo Mining has re-taken full ownership of a nickel project after its joint venture partner scheme pulled out.Kibo, which has gold, nickel, coal and uranium projects, said it had moved back to having a 100% stake in the Haneti nickel-PGM project after Votorantim Metaís Participações, which was funding exploration work, opted out.Votorantim's decision followed a strategic review of its Southern Africa exploration operations.Kibo's Chief Executive Louis Coetzee said he expected to be able to report the laboratory results of exploration work at Haneti before the end of the year."We look forward to advancing the project from here on," he said. Shares closed 0.12p down at 4.88p in London.PW