Coal mining activity brings done by the London based company Edenville energy. [photo/ corporate-digest.com]
The Kenyan-based coal and commodity trader Riftcot has signed a distribution agreement with Edenville energy, a Tanzanian coal producer, to have it buy the coal from the company and distribute it to Kenyan market.
According to the signed agreement, Rifcot will purchase the coal from Edenville energy at an agreed commercial price up to 75 percent of the company's annual production in the Rukwa coal project.
The firms have praised the partnership saying that the Edenville's coal will be distributed to various major industries in Tanzania and around the East Africa region through the Riftcot's structured marketing and logistics framework.
“We see this as an opportunity to leverage Riftcot’s trading platform and experience with Edenville’s newly opened project which will produce washed coal for the East African market,” said Edenville chief executive, Rufus Short.
Edenville energy company, which appears on the London's stock exchange, was allowed to develop the washed coal plant at the country by the Tanzanian Ministry of Energy.
“By committing 75 cent of our production we are able to give volume to Riftcot’s supply contracts whilst also having some product in reserve to supply other clients with their individual requirements,” added Rufus.
Edenville has already begun the treating the coal through its wash plant as it eyes for production of 10,000 tonnes of coal monthly in its full production set for the next year January.