The Mookane Domestic Power Project (“MDPP”) is a planned 300 MW power station and associated coal mine that will be built at CIC Energy’s Mmamabula Coalfield.

In August 2010, CIC Energy signed a shareholders’ agreement for the MDPP with GCL (Botswana) Limited. Under the terms of the shareholder’s agreement, CIC Energy will have a 30% equity stake in the holding company, while GCL Botswana will own the remaining 70% equity stake in the MDPP.

The cost of the MDPP capital equipment and infrastructure is estimated at approximately $800-million (as of August 2010).

The project is expected to be financed at a ratio of not less than 70% debt, with the remaining 30% contributed by the equity partners. The majority of the debt funding is being lobbied from Chinese financial institutions. The debt is anticipated to be nonrecourse to CIC Energy.

The estimated construction time for the MDPP is 26 months, following four months of site preparation works.