LONDON (Alliance News) - Edenville Energy PLC said Thursday the granting of the mining licence for its Rukwa coal deposit in February has allowed it to "initiate and significantly advance a development schedule across the project's mining and power plant component".
Edenville, which is developing the project in south western Tanzania, said discussions with potential funding and technical partners will continue during this work programme, as it "aims to add maximum value whilst retaining control of the project".
Edenville said by the end of its second quarter in June, it is looking to have commenced the sourcing and acquisition of suitable plant and machinery for the commencement of site earthworks, as well as the excavation and testing of a bulk sample of coal and the commissioning of remaining mining bankable feasibility study .
Edenville said it will begin the expansion of the 2014 Lahmeyer power plant feasibility study to include the phased scale up to a 300 megawatt thermal power plant, and it will look to complete the application process for the power plant environmental impact assessment certificate.
Edenville will also commission an airborne topographical survey to accurately map both the mine and power plant locations, it said.
Edenville added the project is moving rapidly to clear pre-development milestones and to satisfy the requirements of the Tanzanian authorities, in order to agree to power purchase agreement, setting the tariff and supply terms for the generation, sale and distribution of electricity.
Shares in Edenville were down 5.0% at 0.0297 pence on Thursday.
By Hannah Boland; hannahboland@alliancenews.com; @Hannaheboland
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