Powerline Financing

RNS Number : 2285S

Edenville Energy PLC

22 June 2018

 

22 June 2018

EDENVILLE ENERGY PLC

("Edenville" or the "Company")

Powerline Financing

Edenville Energy plc (AIM: EDL), the company developing a coal project in southwest Tanzania, is pleased to note that it has been announced that US$455 million of World Bank funding has been approved for the Zambia-Tanzania-Kenya (ZTK) power transmission line. 

This funding will allow the construction of high voltage power infrastructure, which specifically includes the transmission line from Sumbawanga to Tunduma and the associated Sumbawanga substation near to the Company's Rukwa project area in southwest Tanzania.

Edenville believes that this news, in conjunction with the Company's operational mining activities, has the potential to be transformational for the Company's planned Rukwa Coal to Power project.  It should now allow the Company to progress its integrated Rukwa Coal to Power Project with the intention to develop the facility alongside the role out of the new power line.   The Rukwa Coal Project contains 170 million tonnes of Measured and Indicated JORC compliant coal resources and the mine has recently entered commercial production in early 2018.

The Company looks forward to providing further updates as appropriate. 

For further information please contact:

Edenville Energy Plc Jeff Malaihollo - Chairman Rufus Short - CEO	[phone]
Northland Capital Partners Limited (Nominated Adviser and Broker) David Hignell John Howes Jamie Spotswood	[phone]
Optiva Securities Limited (Broker) Jeremy King Graeme Dickson	[phone]
IFC Advisory (Financial PR and IR) Tim Metcalfe Graham Herring Heather Armstrong	[phone]

 

END

 

 

MSCEAXKAADSPEEF