Crunch time looms for CIC Energy deal

Indian firm JSW Energy's takeover of MEC has been plagued by successive snags since the two parties inked a binding agreement last November. The deal would have given the Indians access to 2.6 billion tonnes of thermal and high quality coal in eastern Botswana.

However, a legal challenge by a Chinese firm involved in a joint venture with CIC Energy on a portion of MEC's resource, the non-renewal of a prospecting licence and JSW's need for government guarantees on the continuation of negotiations for commercial agreements have obstructed progress.