Morupule�s new coal mine hangs in balance

Morupule PIC. Keoagile Bonang
Morupule PIC. Keoagile Bonang

Expansion of the Morupule Coal Mine (MCM), which was due to start in April next year, is hanging in the balance following revelations that its off takers, Marubeni Corporation has not yet secured funding for construction of Unit 5 & 6 power plants at Morupule B.

The new mine is supposed to supply coal to a new power station at Morupule B whose construction has been delayed due a dispute between government and the Independent Power Producers (IPPs).

Japan’s Marubeni and South Korea’s Posco last year won a tender to build Unit 5 & 6 at Morupule B power plant but works, which were due to start in January this year, have been delayed after the joint venture said it required a P8 billion sovereign guarantee from government for it to secure funding from banks.   

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