Edenville Energy plc (AIM: EDL) notes recently drafted legislation in Tanzania concerning natural resources projects. The legislation recommends changes to the legal framework governing the natural resources sector in Tanzania and Edenville will continue to monitor any changes that may affect the situation in relation to its Rukwa Coal Project (the “Project”).
The Company would like to stress that Edenville has recently gone through a comprehensive and complete permitting process for the Project with both state and local government organisations, along with the local community, and has received widespread support to develop the Project to provide both energy and employment opportunities to the people of Tanzania.
The Project is moving forward rapidly in its development and employing a majority of local people and contractors. By the end of July 2017, management estimate that up to 30 personnel will be working at the site to mine coal and construct the wash plant which will beneficiate the coal.
The Company will provide further updates as appropriate over the coming weeks.
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 7652 9788
Northland Capital Partners Limited (Nominated Adviser) Gerry Beaney David Hignell +44 (0) 20 3861 6625
Optiva Securities Limited (Broker) Jeremy King Graeme Dickson +44 (0) 20 3137 1902
(Financial PR and IR) Tim Metcalfe Graham Herring Heather Armstrong +44 (0) 20 3053 8671