Annual Report3 Jul 2022 15:04
On their website. Gives plans for this year..
"Delivering growth
1. Establish a strategy and business model which promote long-term value for shareholders
Edenville’s growth strategy is focused on the continued development of its mining operations in Tanzania by tapping into
opportunities to leverage of the current high demand for industrial coal in Tanzania and East Africa and from the high price of
export quality coal alongside the planned development of a mine mouth power plant at the project site which will sell electricity
to Tanesco and the East Africa Power Pool.
The near-term objectives are that, after the the mutual termination of a second coal mining agreement this time with NextGen
Coalmine Ltd, the company has taken control of mining operations and started to use its current capital to invest in the
equipment needed to boost production towards peak wash plant capacity which has been advised is excess of 12,000 tonnes
per month.
Hand in hand with this it will focus on filling the gap for the demand for coal in Tanzania and other East African countries as
well as looking to exploit the very high coal prices for coal internationally. It has already started implementing this strategy
and secured additional excavating and trucking capacity to ramp production up towards 5,000 tonnes per month. The Company
sees a stepwise strategy to lift production in increments of 3,000-5,000 tonnes per month by progressively adding mining
capacity until it reaches maximum plant capacity of about 12,000 tonnes per month.
With the a new President in place since 2020 we are advised that there is possibly a more pragmatic view of electricity tariffing
in country and an open acknowledgement that coal fired generating capacity is needed by 2026. During 2022, the Company is
looking to pursue this option further with in-depth detailed conversations with Tanesco in the Government which hopefully
will result in a revised power plant development program. The AFR RI-3A Tanzania – Zambia Transmission Interconnector
project, which is being part financed by the World Bank, is continuing to move forward and could have positive implications
for Edenville’s planned coal to power business model. "
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