Edenville restarting Rukwa operations ahead of schedule
Aim-listed Edenville Energy says the restart of operations at its Rukwa coal project, in south-west Tanzania, has been brought forward to August 3.
Edenville has entered into a coal mining agreement and a loan agreement with its new strategic partner Infrastructure Logistics Tanzania Limited (ILTL).
Both of these agreements were subject to the agreement of a start date for operations with ILTL, which in turn was dictated by the ability of ILTL to relocate key operational personnel to site from international locations.
Edenville will handle the initial restart of Rukwa in consultation with ILTL, before handing over operational control to ILTL on September 1.
Edenville also recently stated its intention to enter into a sales and marketing agreement with ILTL to market coal to additional customers beyond Edenville's existing customer base at an agreed rate per tonne of washed coal that will be paid to Edenville, thereby providing additional revenue streams.
In addition, ILTL will also provide an anchor tenancy at Rukwa through the initial purchase of a minimum of 3 000 t a month of washed coal, before increasing to 5 000 t a month over the ensuing 12-month period.
With the confirmation of the start date, Edenville expects to finalise and enter into this agreement during August.
"I am delighted to confirm the restart of operations at Rukwa next week. An existing customer is keen to take delivery of Rukwa coal and has now paid in advance to ensure delivery.
"Prior to the suspension of operations, the company had built a substantial order book for Rukwa coal. Following the restart, Edenville will look to refresh those outstanding orders for a progressive build-up of production towards 10 000 t a month," comments CEO Alistair Muir.
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