Shuka Minerals Announces Rukwa Coal Mine Restart Plans

Edenville Energy ( (GB:SKA) ) has provided an update.

Shuka Minerals Plc has announced the planned restart of its Rukwa Coal mine in Western Tanzania, following its recent admission to the Johannesburg Stock Exchange. The company has developed a detailed capital expenditure plan to gradually increase production from 500 tons per calendar month (tpcm) to 5,000 tpcm by the end of 2026, with further expansion potential. The restart aims to generate operational cash flow and leverage existing stockpiles for initial sales. The project is expected to have a net present value of USD12.61 million and an internal rate of return of 80%, although these figures have not been independently verified.

More about Edenville Energy

Shuka Minerals plc is a dynamic and innovative mining and development company focused on exploring and harnessing Africa’s mineral resources. The company is involved in the acquisition and development of valuable minerals, aiming to contribute to the sustainable growth and development of local communities. Shuka operates a coal mine in Tanzania and is considering projects in Zambia, South Africa, and other African countries rich in copper, lead, and zinc. Additionally, Shuka has signed an agreement to acquire Leopard Exploration and Mining Limited, which holds a license for the historical Kabwe Zinc Mine in Zambia.

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Technical Sentiment Signal: Sell

Current Market Cap: £2.34M

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