LONDON (Alliance News) - Edenville Energy PLC said Wednesday that it has been granted a mining licence for its Rukwa coal deposit in Tanzania, which sent the company's shares up 45%.
It expects the mining licence to be formally issued next week after minor administrative tasks are completed.
Shares in Edenville were up 45% at 0.0400 pence Wednesday morning.
"We are delighted that the mining licence for our Rukwa coal deposit has been granted. We would particularly like to thank Professor S Muhongo and his Tanzanian government colleagues for the help and support they have provided. They have expressed the strong desire to see Edenville start producing coal in the second half of this year and have indicated their full support to progressing our coal to power project to completion," said Chief Executive Officer Rufus Short in a statement.
By Hana Stewart-Smith; hanassmith@alliancenews.com; @HanaSSAllNews
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