LONDON (Alliance News) - Edenville Energy PLC said Monday it has purchased a second excavator for its Rukwa coal project to begin mining at an additional site.
Shares in Edenville Energy were down 12% Monday at 0.13 pence each.
The second excavator is expected to "open up" a new mining area to the north of the current excavations in Tanzania, Edenville said, adding that the second excavator is already in operation at the project site.
Edenville said four additional haul trucks have been hired to increase the amount of material being mined from the existing pit. The new excavator and the additional trucks are expected to move to the new northern mining area shortly.
The Tanzanian authorities have approved the additional site and Edenville said land compensation payments are now being made.
An in-pit lighting system has been installed, allowing 24 hour operations in the existing pit. Edenville believes this "further increases" its mining capacity.
Edenville said: "Management believe that these developments, when complete, will increase that amount of washed can that can be produced from the project and the company looks forward to providing further updates as matters progress."
