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Edenville agrees coal offtake deal with Riftcot

By BFN News | 09:45 AM | Tuesday 10 October, 2017


Edenville Energy, the company developing a coal project in south-west Tanzania, has entered into a coal offtake agreement with Riftcot, a leading supplier of coal to the East Africa market. Edenville recently started treating coal through its wash plant and once up to full production, currently anticipated to be in January, and utilising the current plant and equipment levels, the company anticipates production volumes of at least 10,000 tonnes of coal per month. Edenville said the agreement was for Riftcot to purchase, at a recognised commercial market price, up to 75% of the company's Rukwa project's yearly production and would run for an initial term of five years. It said Riftcot would receive an arrangement fee for each delivery of coal to cover marketing and provision of transport. At 9:45am: (LON:EDL) Edenville Energy PLC share price was +0.03p at 0.67p Story provided by StockMarketWire.com

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