Edenville Energy to expand operations at Rukwa

Edenville Energy plc (LON:EDL) has announced that, following a period of previously announced disappointing performance at Rukwa Coal Project, a new experienced on-site management team has been mobilised to run its mine at Rukwa in Western Tanzania, with the local team expected to be in place as of today, 3 August 2022. This follows a visit to the site by CEO Noel Lyons and Paul Ryan the Company’s recently appointed executive Board members.

The Company is also pleased to announce that it has offtake requests for an aggregate 5,000 tonnes of washed coal in August 2022, comprising a 4,000 tonne international export order to a new customer in Mombasa, Kenya, and 1,000 tonnes to a longstanding Tanzanian customer. Furthermore, the new customer has indicated a potential requirement of up to 12,000 tonnes per month which the Company will endeavour to fulfil over the coming months, although this will require a significant ramping up of production at Rukwa under the supervision of the new on-site management team and a formal offtake agreement has yet to be signed with this customer. All of the production targets above far exceed previous and recent production levels at the mine and as a result there may be challenges initially getting production up to these levels but the new on-site management will endeavour to achieve the above target.

In addition, the Company continues to make progress on the reversal of the transfer of Upendo Group Ltd.’s 10% economic interest in the joint venture, which holds the licences governing the Rukwa project, to a 10% direct holding on the principal production licence. A further update will be provided in due course.

Noel Lyons, Chief Executive Officer of Edenville, commented: “Following a period of poor production and lack of progress at Rukwa, the Company regained operational control at Rukwa. We are now putting in place a strategy to expand operations at Rukwa to deliver on both growth and shareholder value.”

Click to view all articles for the EPIC:
Or click to view the full company profile:
    Edenville Energy Plc

    More articles like this

    Edenville Energy Plc

    Edenville Energy much improved performance at Rukwa

    Edenville Energy Plc (LON:EDL) has provided a production update regarding its Rukwa Coal Project. A total of 594 tonnes of coal were washed at Rukwa in March 2023. Of this, 512.5 tonnes of coal were washed from

    Eden Research

    Edenville Energy updates on Rukwa Coal Project

    Edenville Energy Plc (LON:EDL) has provided an update on operations at its Rukwa Coal Project in Tanzania. Following the recommencement of production at Rukwa, as announced on 11 October 2022, the Company is pleased to report

    Edenville Energy Plc

    Edenville Energy production recommenced at Rukwa Coal Project

    Edenville Energy Plc (LON:EDL) has provided an update on operations at its Rukwa Coal Project in Tanzania. Highlights –      Production recommenced at Rukwa at an initial 4,000 tonnes per month of washed coal –      Completed overhaul of wash plant

    Edenville Energy Plc

    Edenville Energy signs new coal mining contract with Nextgen

    Edenville Energy Plc (LON:EDL) has announced its subsidiary Edenville International (Tanzania) Limited has entered into a contract with Nextgen Coalmine Limited for the operation of the Company’s Rukwa Coal Project in Tanzania..  The Agreement is for

    Edenville Energy Plc

    Edenville Energy appoint Tavira Securities as broker

    Edenville Energy Plc (LON:EDL) has announced the appointment of Tavira Securities Limited as broker to the Company. Tavira has recruited senior personnel that managed the Edenville relationship for the Company’s former broker, Brandon Hill Capital Limited, including Oliver Stansfield