Mining Licence Update

RNS Number : 8867Z

Edenville Energy PLC

23 September 2015

 

23 September 2015

Edenville Energy plc

("Edenville" or the "Company")

Mining Licence Application and EPC Partner discussion update

Edenville Energy plc (AIM: EDL), the company developing a coal to power project in south western Tanzania, is pleased to provide an update concerning its Mining Licence Application for the Rukwa Coal Project and recent discussions with potential EPC (Engineering, Procurement and Construction) partners. 

Mining Licence Application

The submission of the Mining Licence Application to the Tanzanian Ministry of Energy and Minerals (MEM) was announced on 1 July 2015. Since the submission the Company has received requests for further information from the MEM as they have considered the application, an expected and normal process.  Working alongside Tansheq, our specialist consultants based in Dar es Salaam, Edenville has complied with these requests or is the process of doing so.  It is expected that all further requested information will be provided by the end of September 2015.  Much of the information has been related to the technical aspects of the JORC compliant calculation of 170 million tonnes of Measured and Indicated Resources. The extensive work carried out in compiling the resource statement has enabled the Company to supply the requested information in a timely manner to verify the robust nature of the calculations.  Subsequent to the final review of the additional information, there will be an administrative process completed by the MEM.  The Company continues to work with Tansheq and the MEM to progress the application to its completion, the timing of which remains subject to the MEM.

Recent Meetings with EPC Contractors

During September, several meetings have taken place with potential EPC partners, including, amongst others, very positive further meetings with Shandong Electric Power Construction No.2 Company (SEPCO2) and other potential partners in China.  These potential partner discussions remain ongoing and the Company looks forward to updating the market as they move to conclusion in the coming months.

Rufus Short, CEO of Edenville commented, "I am extremely pleased with the progress that has been made towards the granting of the Mining Licence for our Rukwa Coal Project.  The timing is in line with what was advised and we are grateful for the input from MEM and Tansheq into the process.  Having a Mining Licence in place will significantly enhance our options for development and positively affects our discussion with both potential partners and sources of finance for project development.   Coupled with the progress we are making in the Power Plant Feasibility process and in discussions with potential partners the project is moving towards the stage, expected to be later this year, when a multi-party plan for project development can be agreed."

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

 

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