Sable Mining acquires Zimbabwe coal assets

Aim-listed resources investment company Sable Mining said on Tuesday that it would acquire an 80% interest in Monaf Investments, which holds the Lubu coal concession in the Bulawayo mining district of Zimbabwe.

The company would pay $3-million in cash and a further $3-million in shares at 28p a share, subject to satisfaction of certain conditions precedent.

Sable said that the transaction was part of its strategy to identify and invest in coal and iron-ore assets that could be rapidly developed to production. The Lubu coal concession is about 120 km north-east of the Hwange colliery and the Bulawayo rail line runs 100 km to the south west.

Editor's Comment
Human rights are sacred

It highlights the need to protect rights such as access to clean water, education, healthcare and freedom of expression.President Duma Boko, rightly honours past interventions from securing a dignified burial for Gaoberekwe Pitseng in the CKGR to promoting linguistic inclusion. Yet, they also expose a critical truth, that a nation cannot sustainably protect its people through ad hoc acts of compassion alone.It is time for both government and the...

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