Morupule�s new coal mine hangs in balance

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.