Sable, China's CITIC To Study Zimbabwe Coal and Power Project

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

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(END) Dow Jones Newswires

September 21, 2015 03:37 ET (07:37 GMT)

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