Kibo Mining, a Tanzania-focused mineral exploration and development Company, has signed a strategic Memorandum of Understanding with Mbeya Cement Company, to develop a strategic regional collaboration and reciprocal supply of materials agreement.
Over the past months, the company and Mbeya Cement have identified various areas in which they believe they can collaborate towards the socio-economic benefit of the Mbeya and Songwe regions of Tanzania as well as for their own commercial objectives. After identifying the various areas of possible collaboration, Kibo and Mbeya Cement have committed their respective companies towards achieving these benefits by agreeing and signing a strategic Memorandum of Understanding. The MoU will guide and govern a process whereby the parties will use their reasonable commercial endeavours to procure definitive agreements that will ensure fairness both in respect of product pricing and specific quantities, and will also make provision for market conditions to procure a fair commercial relationship in which all parties share in the risks and benefits of prevailing market conditions.