Edenville introduces new management at Rukwa to improve performance
Aim-listed coal miner Edenville Energy has mobilised a new on-site management team to tackle the recent “disappointing” performance at its flagship Rukwa coal project in Tanzania.
The new, experienced management team will take the lead in managing the mine as of August 3, following a visit to the site by CEO Noel Lyons and executive director Paul Ryan.
“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,” says Lyons.
In other news, Edenville has also received offtake requests for an aggregate 5 000 t of washed coal to be supplied this month, comprising a 4 000 t international export order to a new customer in Mombasa, Kenya, and 1 000 t to a longstanding Tanzanian customer.
The new customer has indicated a potential requirement of up to 12 000 t a month of coal, which Edenville says it 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.
Also, a formal offtake agreement has yet to be signed with this customer.
Edenville notes that there may be challenges initially in getting production up to the levels required by the new client.
Meanwhile, Edenville also reports that it is progressing with the reversal of the transfer of Upendo Group’s 10% economic interest in the Rukwa joint venture – which holds the licences governing the Rukwa project – to a 10% direct holding on the principal production licence.
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