Edenville Energy PLC Project and Company Update (2318K)
April 15 2015 - 2:01AM
UK Regulatory
TIDMEDL
RNS Number : 2318K
Edenville Energy PLC
15 April 2015
15 April 2015
Edenville Energy plc
("Edenville" or the "Company")
Project and Company Update
Edenville Energy plc (AIM: EDL), the African coal development
company, is pleased to provide an update regarding recent progress
and developments, following the release on 2nd March 2015 of the
positive results of the Power Plant Feasibility Study.
The granting of a mining licence from the Tanzanian authorities
("Mining Licence") is a critical requirement for the development of
the project; whether this be for an integrated power plant
development or an operation that mines coal for local and regional
sales. Subsequent to the release of the Power Plant Feasibility
Study in March, one of the areas the Board has focused on is
developing and refining the Mining Licence application package.
The Environmental Impact Assessment, provided in June 2014, is a
key component of the Mining Licence application and this
compliments the mining licence submission documents currently being
completed. The Company is currently finalising the compilation of
necessary documents and data for a Mining Licence application,
planned to be made in Q2 2015.
The application is being managed in conjunction with our
in-country advisors, Tansheq, a specialist consultancy group who
worked with Edenville through the entire Environmental Impact
Assessment process. Sound Mining Systems (SMS) of South Africa, who
completed the 2013 Resource Report, are also working on technical
aspects of the mine plan in order to complete the submission
documents. Grant of a Mining Licence is an iterative process but we
have been advised by Tansheq, that the timeline for approval is
approximately 3-4 months.
Once the Mining Licence has been granted, it will give the
Company the right to commercially mine coal from the licence area.
The Project would be one of only three in Tanzania with this type
of mining licence to extract coal. The Company's base case remains
the development of the mine and power plant to operate as an
integrated commercial entity as substantiated by the Power Plant
Feasibility Study. There will also be the opportunity to sell coal
to local and regional customers who may be interested.
In addition to work on the Mining Licence we continue to take
part in necessary discussions and the supply of requested data to
the relevant Tanzanian Government departments in order to move the
process forward in connection with the Power Plant development.
Rufus Short, CEO of Edenville Energy commented: "I am very
pleased with our progress since the release of the Power Plant
Feasibility Study, 6 weeks ago. Moving to the Mining Licence stage
will enable the project to be production ready to take advantage of
opportunities in this rapidly growing part of Africa. Our progress
through the Tanzanian regulatory system continues to move forward
and we appreciate the solid support received from the Tanzanian
Government for our Power Plant project."
Enquires
Edenville Energy plc
Sally Schofield - Chairman +44 (0)20 7653
Rufus Short, CEO 9850
Cantor Fitzgerald Europe (Nominated Adviser +44 (0) 207 894
and Broker) 7000
Stewart Dickson / Jeremy Stephenson
+44 (0) 203 053
IFC Advisory 8671
Tim Metcalfe / Graham Herring
http://www.edenville-energy.com
This information is provided by RNS
The company news service from the London Stock Exchange
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