Edenville Energy scores East African supply conract

AIM-listed firm Edenville Energy has inked a two-year coal supply contract with an East African industrial group.

Edenville, which is developing a coal project in southwest Tanzania, will provide its unnamed customer with as much as 4,000 tonnes of coal with a gross calorific value greater than 4,800 per month.

While no numbers were disclosed, Edenville said the pair had already agreed on pricing, based on calorific content and local commercial rates.

Rufus Short, chief executive of Edenville, said, "I am very pleased our team have been able to work alongside this customer to ensure their needs are met and that the company can look forward to supplying the customer coal for at least the next two years."

Edenville has been working with its mystery customer to optimise the duo's product and transport options and is currently undertaking upgrades at its project site to ensure the contract, along with its other customer deliveries, can be met.

As of 0900 BST, Edenville shares had surged 12.28% to 0.32p.