LONDON (ShareCast) - Edenville Energy announced it will give up a non-core uranium licence in Tanzania, choosing instead to focus on the country's Rukwa coal project.
The firm said it will take an impairment charge of £1.2m upon relinquishing the licence, which was acquired in 2010 as part of the company's acquisition of Edenville International.

The energy firm added that by renouncing the licence it will be able to free up cash resources that will be committed to the Rukwa coal project.

Edenville shares plunged 14.18% to 0.04p at 12:35 on Monday.

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