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Edenville Energy Formally Awarded Mining Licence At Rukwa Project

Thu, 03rd Mar 2016 08:51

LONDON (Alliance News) - Edenville Energy PLC Thursday said it has formally been granted the mining licence for the Rukwa coal deposit in Tanzania.

The licence covers the resource at Mkomolo, which hosts the majority of Edenville's coal resource within the Rukwa coal deposit. The licence gives Edenville the exclusive right to search, dig, mine and process the coal from the 8.5 square kilometre area over the next ten years.

The licence states that Edenville must beginning development work at the site within the next three months, with "regular production" expected within 18 months.

Edenville said it will now look to sign a framework agreement to set out the milestones for a power purchase agreement with Tanzania Electric Supply Co Ltd, which plans to buy coal-to-power plants to serve the domestic market.

Edenville shares were trading up 0.2% to 0.0338 pence per share on Thursday.

By Joshua Warner; joshuawarner@alliancenews.com; @JoshAlliance

Copyright 2016 Alliance News Limited. All Rights Reserved.

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Copyright 2023 Alliance News Ltd. All Rights Reserved.

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30 Jun 2023 14:03

EARNINGS SUMMARY: Wentworth swings to loss as M&P takeover drags on

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2 Jun 2023 13:30

Edenville Energy proposes name change to Shuka Resources

(Sharecast News) - Africa-focussed miner Edenville Energy announced its proposal to change its name to Shuka Resources on Friday.

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2 Jun 2023 10:16

IN BRIEF: Edenville Energy proposes name change to Shuka Resources

Edenville Energy PLC - African focused mine operator and developer - Proposes name change to Shuka Resources PLC, which it says "better reflects the company's key focus in Africa".

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Edenville Energy shares soar as it raises GBP1.5 million

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Edenville upbeat on latest activity at Rukwa Coal Project

(Sharecast News) - Mining company Edenville Energy updated the market on production at its Rukwa Coal Project in Tanzania on Tuesday, reporting that 594 tonnes of coal were washed at Rukwa in March.

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11 Apr 2023 11:44

Edenville Energy "encouraged" as 594 tonnes of coal washed at Rukwa

(Alliance News) - Edenville Energy PLC said on Tuesday its production performance at Rukwa project improved last month amid better weather conditions.

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Edenville says 2,000 tonnes of coal per month rained off until June

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IN BRIEF: Edenville Energy wins case after unfair dismissal claims

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