Business
Formal Grant of Mining Licence
Formal Grant of Mining Licence.
About this update from Shuka Minerals Plc
[{"type":"text","content":"\n \nRNS Number : 8695Q Edenville Energy PLC 03 March 2016 \n\n3 March 2016\n \nEDENVILLE ENERGY PLC\n(\"Edenville\" or the \"Company\")\n \nFormal Grant of Mining Licence\n \nEdenville Energy plc (AIM:EDL) the company developing a coal-to-power project in south west Tanzania is pleased to report that the Mining Licence (ML 562/2016), granted to Edenville International (Tanzania) Limited (\"EITL\" or \"the Licensee\") has been formally released by the Tanzanian Ministry of Energy and Mines (\"MEM\") and was received by Edenville Energy plc on 2 March, 2016. \nEdenville International (Tanzania) Limited ('EITL') is incorporated in Tanzania and is a 99.5% owned subsidiary of its ultimate parent company, Edenville Energy plc.\nAs announced on 24 February 2016, the Mining Licence was signed and granted on 23 February 2016, with release subject to minor administrative issues. The team at Edenville has addressed all matters outstanding to the satisfaction of the MEM and the Licence has been formally released to the Company. \nThe Mining Licence covers the Company's Measured and Indicated, JORC compliant coal resource at Mkomolo, which hosts the majority of Edenville's coal resource within the Rukwa Coal Deposit, and gives the exclusive right to 'search for, mine, dig, mill, process, refine, transport, use and or market coal, in and vertically under the Mining Licence Area and execute such other works as are necessary for that purpose'. The Licence, which covers an area of approximately 8.49 square kilometres, shall remain in force for an initial period of ten years from the date of grant. \nThe Mining Licence states that the Licensee will commence development work within three months from date of grant, or such further period as may be agreed by the Minister, on the basis of plans, general design for the mine and related facilities consistent with the approved Mining Plan.\nThe Licensee shall commence regular production from the Mining Licence area within a period of eighteen months from the date of grant or within such further period as may be agreed by the Minister. \nAs a next step the Company expects to announce the signing of a Framework Agreement setting out the milestones for a Power Purchase Agreement ('\"PPA\") with Tanzania Electric Supply Company Ltd (\"Tanesco\").&nbs...