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Edenville Energy Plc

Edenville Energy PLC Rukwa coal project update

Edenville Energy PLC (LON:EDL), the AIM quoted company developing the Rukwa coal project in southwest Tanzania, has today announced it has taken delivery of two recently acquired 30 tonne trucks to be used in mining load and haul at its Rukwa Coal Project site.

Utilising a modest part of the proceeds from the fund raising undertaken in May 2019, the trucks will provide the backbone of load and haul operations at the Project.  As the Project expands the trucks may be supplemented with additional units.  The Company has previously been relying on trucks supplied by contractors, which in the past have sometimes proved to be both an expensive and inefficient option.  The two new trucks will operate on a two shift per day basis, compared to the single shift for the previous contractor’s trucks, increasing the amount of coal that can be delivered to the Company’s wash plant.  As a result, the wash plant is expected to move to a double shift basis in the coming weeks, thereby boosting productivity at the Project.

Rufus Short, CEO of Edenville, commented: “Adding these new trucks to the Company’s fleet should reduce the Project’s mining costs and enable greater flexibility and extended usage in operations.  As the Northern Mining area continues to yield encouraging results, our reliance on contractors is diminishing and our overall efficiency improving.  I look forward to providing our shareholders with further updates regarding overall progress at the Project in due course.”

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Disclaimer: Statements in this article should not be considered investment advice, which is best sought directly from a qualified professional.