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| Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
|---|---|---|---|---|---|
| Sable Mining | LSE:SBLM | London | Ordinary Share | VGG7762V1076 | ORD NPV (DI) |
| Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.00 | 0.00% | 0.202 | 0.00 | 00:00:00 |
| Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
|---|---|---|---|---|---|
| 0 | 0 | N/A | 0 |
From Jan 2020 to Jan 2025
TIDMSBLM
RNS Number : 5482Z
Sable Mining Africa Limited
21 September 2015
Sable Mining Africa Ltd / Index: AIM / Epic: SBLM / Sector: Natural Resources
21 September 2015
Sable Mining Africa Ltd ('Sable Mining' or 'the Company')
MoU on Zimbabwean Coal Power Station Development
Sable Mining, the AIM listed exploration and development company, is pleased to announce that it has entered into a Memorandum of Understanding (the 'MoU') with a view to developing a 600MW coal-fired power plant at the Company's 19,236 hectares Lubu Coal Project in Zimbabwe ('Lubu'), with CITIC Construction Co., Ltd ('CITIC'), a subsidiary of CITIC Group, a Chinese based construction and services provider.
Under the terms of the MoU, Sable and CITIC will explore the opportunities of using their respective expertise to work together to develop a commercial coal-fired power station at Lubu. It is the intention that coal mined at Lubu (which is located in the Mid Karoo Zambezi coal basin in the established Hwange mining district of north-western Zimbabwe), will supply the power station.
The MoU is supported by the Republic of Zimbabwe and the Ministry of Energy and Power Development, which is the administration in charge of power development, in line with its mandate to promote the development of energy and power generation in Zimbabwe.
Sable Mining CEO Andrew Groves said, "Considering the energy and power dynamic in southern Africa, there is a major demand for a secure and reliable power supply, which will continue to grow unless new power sources are established. Our proposition is to develop a 600MW coal power station in conjunction with CITIC and with the support of the Zimbabwean government. This will represent a significant step forward in solving the ongoing energy deficit which is currently presenting significant obstacles to development within southern Africa. The combination of our quality coal together with CITIC's access to power plant infrastructure, financing and construction expertise has the potential to create a long term power supply which, due to Lubu's strategic location in north-west Zimbabwe, could supply both domestic and regional demand once connected to the established power grid. Our team now look forward to exploring the commercial potential of this MoU further with the CITIC team and moving forwards with this project at speed."
** ENDS **
For further information please visit www.sablemining.com or contact:
Hot Features
Premium
Andrew Groves Sable Mining Africa Tel: 020 7408
Ltd 9200
David Foreman Cantor Fitzgerald Europe Tel: 020 7894
7000
Stewart Dickson Cantor Fitzgerald Europe Tel: 020 7894
7000
Richard Greenfield GMP Securities Tel: 020 7647
2836
Hugo de Salis St Brides Partners Ltd Tel: 020 7236
1177
Charlotte Heap St Brides Partners Ltd Tel: 020 7236
1177
This information is provided by RNS
The company news service from the London Stock Exchange
END
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(END) Dow Jones Newswires
September 21, 2015 02:00 ET (06:00 GMT)
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