Tight markets for consulting and engineering expertise

International Mining has for some months been reporting on tight markets for both consulting and engineering expertise. Now CIC Energy, developing the Mmamabula Energy Project in Botswana notes: “The EPC market globally has continued to tighten in the last few months, and the sponsors have concluded that it will be difficult to enter into a turnkey EPC contract for this large scale project on terms and conditions that, until recently, were accepted by EPC contractors and would have enabled this project to be financed on a non-recourse project finance basis.” A cautionary tale perhaps for some who have not secured the engineering they need. This latest issue of International Mining Project News also contains significant nickel news from a number of companies, like Mincor and Focus Minerals, working in the Kambalda area of Western Australia. (more…)