Africa Coal Commodities Tanzania Trade

Tanzania: Edenville Energy signs up new coal customers

Edenville Energy said it had signed a one-year contract for the provision of a minimum of 2,000 tonnes of coal per month from its operations in southwest Tanzania.

The contract was signed with an East African industrial user, with ‘favourable’ payment terms, the company said.

Edenville said it had also commenced production on a new order for 4,000 tonnes of coal for a Tanzanian customer. If the coal was deemed suitable by the customer, it would request another 60,000 tonnes over a period of six months, the company added.

Trials were also underway with a potential third customer.

‘As we progress our coal to power project we believe we are in a strong position as a coal producer in Tanzania,’ chief executive Rufus Short said.

‘Whilst our current production is mainly under one off contracts with potential longer-term customers, we are confident that a sufficient number of these orders will lead to longer-term contracts.’

‘This coal is being sold at commercial market rates, similar to those rates we expect for longer-term deals.’

Source: StockMarketWire

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