Rising coal prices bring hope to CIC Energy, Aviva :: Mmegi Online

An average 40 percent increase in the price of thermal coal in 2010 and projections for even further growth this year have come as a godsend to the development of Mmamabula and Mmamantswe projects whose prospects were dented late last year.

Powered by CIC Energy and Aviva Corp, the two eastern Botswana projects were all but scuppered in November when they were excluded from a draft South African energy plan outlining that country's power purchase plans over 20 years.

The two developers had planned to develop integrated coal mine and power stations with supplies targeted at South Africa, an economy with a 32, 000 megawatt (MW) peak power consumption rising at approximately two percent per year. With South Africa planning to double its power capacity to 80, 000 by 2026, Mmamabula and Mmamantswe were hopeful of supplying part of these requirements.

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Rising coal prices bring hope to CIC Energy, Aviva

An average 40 percent increase in the price of thermal coal in 2010 and projections for even further growth this year have come as a godsend to the development of Mmamabula and Mmamantswe projects whose prospects were dented late last year.

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