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Edenville Energy PLC (EDL)

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Tuesday 09 October, 2018

Edenville Energy PLC

Coal supply contract

RNS Number : 3500D
Edenville Energy PLC
09 October 2018
 

9 October 2018

EDENVILLE ENERGY PLC

("Edenville" or the "Company")

 

Coal supply contract

 

Edenville Energy plc (AIM: EDL), the company developing a coal project in southwest Tanzania, is pleased to announce that it has signed a significant contract for the supply of a specialised coal product.  The customer, an industrial group operating in East Africa, will use the coal as part of its manufacturing process.  The terms for supply are set out below:

 

·     the contract duration is for an initial period of two years; 

·     coal will be supplied with a gross calorific value averaging 5,500 kCal/kg;

·     pricing has been agreed and is based on local commercial rates;

·     the customer will be responsible for transport of the coal from the mine gate; and

·     the contract is for the supply of 3,500 tonnes of coal per month with an option for the customer to increase this up to 6,000 tonnes per month.

 

Edenville has been working with this customer for some time to create a product specifically suited to the customer's operations and has been supplying test batches of coal.  The upgrades currently being undertaken at the Company's Rukwa project site will ensure this contract, along with our other customer deliveries, can be met.

 

Commenting, Rufus Short, CEO of Edenville said, "I am very pleased we have formalised this relationship and have secured Edenville's largest single coal contract to date.  We look forward to supplying this customer with coal from our operation in Tanzania and we will continue to work with them to ensure their needs are met.  With this contract, we now have in excess of 8,000 tonnes per month of regular orders and are busy implementing the expansion plans at site.  I look forward to providing further updates on the progress of the operation as we continue to establish the project as a significant supplier of coal in East Africa."

 

This announcement contains inside information for the purposes of Article 7 of Regulation (EU) 596/2014.

 

For further information please contact:



Edenville Energy Plc

Jeff Malaihollo - Chairman

Rufus Short - CEO

+44 (0) 20 3934 6630

 

Northland Capital Partners Limited

(Nominated Adviser and Broker)

David Hignell

Gerry Beaney

Jamie Spotswood

 

 

+44 (0) 20 3861 6625

IFC Advisory

(Financial PR and IR)

Tim Metcalfe

Graham Herring

Heather Armstrong

+44 (0) 20 3934 6630

 


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