CIC Energy Corp., which holds certain mineral rights to the Mmamabula Coalfield in Botswana, an extension of the major Waterberg Coalfield in South Africa, is developing the Mmamabula Energy Project. The Mmamabula Energy Project involves the planned development in two phases, of a major coal mine and associated power station with each phase expected to consist of a mine producing an anticipated 8.5 million tones per annum, supplying a power station of approximately 2400MW. It is anticipated that electricity will be sold under long term power purchase agreements with each of Eskom Holdings (in South Africa) and Botswana Power Corporation in Botswana. CIC Energy plans to have the first generating unit commercially operative by mid-2011.

Gregory Kinross • Kinross@taucapital.com
Tore Horvei • thorvei@taucapital.com

www.cicenergycorp.com