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Edenville Energy Sees Reduced Washed Coal Production At Rukwa Project

Edenville Energy PLC on Tuesday said it expects the production of washed coal to be reduced at its Rukwa coal project in Tanzania as long as seasonal rains continue.

The London-listed energy company said this is due to the stockpile of run-of-mine coal it accumulated proving difficult to wash due to its moisture content.

It said the group sold 948 tones of washed coal for the period between Jan. 1 and March 27 which brought in around 34,500 pounds ($42,387) in revenue.

"We remain focused on resolving any legacy issues at Rukwa and remain confident that the challenges can be overcome. However, in conjunction with this, we are also focused on securing potential new and exciting coal opportunities," said Chief Executive Noel Lyons.

At 0833 GMT, shares were down 0.38 pence, or 5.4%, at 6.63 pence.