Mmamabula cannot proceed without regulatory certainty – CIC

source: Mmegi

Toronto-listed energy company CIC Energy reiterated that it could not proceed with the Botswana-based Mmamabula project without regulatory approvals from the South African government.

CIC Energy president Greg Kinross said at the Mining Indaba 2010 conference, in Cape Town, that the regulatory uncertainties were the biggest challenge confronting the advancement of the project. The company deferred certain financial, legal and engineering activities related to the Mmamabula energy project, in December.

The decision was driven by the South African government’s development timeline for its energy sector integrated resource plan. Kinross noted that the Mmamabula project could not be covered by the first integrated resource plan, which would only cover requirements for new generation capacity for the three-year period from April 2010 to March 2013. Thus, the company was awaiting the completion and approval of the second inte- grated resource plan (IRP2). Kinross noted that the IRP2, which would outline requirements for [continue reading]

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