Mining Licence Application

RNS Number : 8800Q

Edenville Energy PLC

23 June 2015

 

23 June 2015

Edenville Energy plc

("Edenville" or the "Company")

Mining Licence Application

Edenville Energy plc (AIM: EDL), the company focussed on generating new sources of coal-based energy in southern Tanzania, is pleased to provide an update concerning its Mining Licence Application for the Rukwa Coal Project. 

Data and documents for the application have now been completed and reviewed.  This includes a wide range of technical and regulatory information including:

·     Mining Plan

·     Employment Plan

·     Corporate and Social Responsibility framework 

Edenville continues to work closely with its in-country consultants, Tansheq, who are in the process of submitting the Mining Licence application and supporting documents to the Tanzanian Ministry of Energy and Minerals (MEM).  We expect the submission process to be completed by the end of June 2015 in line with our earlier statements.

Having the Mining Licence well ahead of any Power Plant development would allow the Company to present a significantly advanced and de-risked project to our investors and potential partners.   In addition, it presents the opportunity to generate early stage cash flow by supplying regional coal users should commercially viable terms be agreed.

We acknowledge the contribution Tansheq and SMS Consultants from South Africa have made to help advance the Rukwa Coal Project to this stage and we look forward to continuing these relationships as we develop the project further.

Rufus Short, CEO of Edenville commented, "I am extremely pleased with the progress towards development of mining operations at our Rukwa Coal Project.  Once the Mining Licence is in place our options for development are enhanced and significantly de-risked.  Coupled with progress in the Power Plant feasibility and the upcoming visit to Tanzania by Shandong Electric Power Construction No2 Company (SEPCO2) the project is increasingly taking shape as a potential major contributor to Western Tanzania's economy and development.

I would also like to report that the 2015 exploration programme has commenced with ground magnetic survey work in the Namwele area and we will be expanding this programme as the dry season continues. I look forward to further updating shareholders in the near future on progress in both the mining and power areas."

Contact
Edenville Energy Plc Rufus Short - CEO	[phone]
Cantor Fitzgerald Europe (Nominated Advisor and Corporate Broker) Stewart Dickson Jeremy Stephenson	[phone]
IFC Advisory (Financial PR and IR) Tim Metcalfe Graham Herring	[phone]

 

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