Odds against Mmamabula licence appeal

Friday, June 24, 2011

Even as CIC Energy maintains its official silence on the identity of new suitors for the Mmamabula Energy Complex, information has emerged suggesting that the new bidders will have to do with a slightly smaller resource than the 2.6 billion tonnes originally touted.

Insiders told BusinessWeek that the Canadian company's appeal over the non-renewal of the Mmamabula South prospecting licence was unlikely to be fruitful. The licence carries about 300 million of the 2.6 billion tonnes that is Mmamabula, slightly shaving the resource estimation.

Studies prior to CIC Energy's entry in 2006 indicated an in situ resource of two billion tonnes at Mmamabula South, with recoverable coal pegged at 500 million tonnes.

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Odds against Mmamabula licence appeal

Even as CIC Energy maintains its official silence on the identity of new suitors for the Mmamabula Energy Complex, information has emerged suggesting that the new bidders will have to do with a slightly smaller resource than the 2.6 billion tonnes originally touted.