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Edenville Energy relinquishes 3 licenses in Tanzania to focus on Rukwa coal-to-power project

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Edenville Energy relinquishes 3 licenses in Tanzania to focus on Rukwa coal-to-power project

EdenvilleEnergy Plc said April 27 that its Tanzanian subsidiary, , relinquished three exploration licenses to focus its manpowerand financial resources solely on the Rukwa coal-to-power project.

The company will realize an impairment charge of about £3.6million as a result.

Edenville will save about US$250,000 over the next 12 monthsin work and license fee commitments by relinquishing the licenses as theTanzanian government requires continued expenditure for the license to remaincurrent.