Sable, China's CITIC To Study Zimbabwe Coal and Power Project
21 September 2015 - 9:52AM
Dow Jones News
By Alex MacDonald
LONDON--Sable Mining Africa Ltd.(SBLM.LN) said on Monday that it
has signed a preliminary agreement with Chinese construction firm
CITIC Construction Co. to develop a 600 megawatt coal-fired power
plant at the company's 19,236 hectares Lubu coal project in
Zimbabwe.
Sable, whose chief executive is Zimbabwe-born mining
entrepreneur Andrew Groves, said that, according to the memorandum
of understanding, Sable and CITIC Construction, a unit of China's
investment group CITIC Ltd. (0267.HK), would examine the viability
of a commercial coal-fired power station, built by CITIC and
supplied by Sable.
The power plant would have the potential to supply electricity
to both domestic and regional customers, given its location in the
northwest of Zimbabwe, Sable said.
-Write to Alex MacDonald at alex.macdonald@wsj.com
Subscribe to WSJ: http://online.wsj.com?mod=djnwires
(END) Dow Jones Newswires
September 21, 2015 03:37 ET (07:37 GMT)
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