Browsing: Invictus energy

Invictus Energy received environmental impact assessment (EIA) renewal approval from the Zimbabwe Environmental Management Agency (EMA) for the Cabora Bassa project.

The renewal will be valid until July 2023 and permits the company, which owns 80 per cent of the project, to operate in accordance with Part XI of the Environmental Management Act.

Additionally, the renewal concludes the permitting requirements and enables the company to undertake activities in the field, including seismic acquisition and exploration drilling.…

Zimbabwean government is excited after a potential prospect of Oil and Gas was discovered in Muzarabani area. President Mnangagwa says once exploited it will make the nation energy self-sufficient, create employment, empower the growth of the economy and enable huge downstream benefits.

According to the president Oil and Gas industry represents huge, unique and competitive investment opportunities given the significant potential for value chain linkages.

“the prospect of oil discovery is exciting”, which will inevitably positively impact local communities and the national economy at large.”

“The project will undoubtedly impact the GDP of Mashonaland Central Province as well as Muzarabani and surrounding districts,” he said.

The President was Speaking this at State house where he was a guest of honor during the signing of the petroleum exploration development and production agreement (PEDPA) between the Government and Australian oil and gas exploration firm, Invictus Energy.

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Zimbabwe has one of the most diverse mining sectors I have ever come across. The country’s soil is rich in elements such as platinum, coal, iron ore, gold, diamonds and most recently the prospect of oil and gas.

Despite its complex economic challenges, mining, along with agriculture, has been a key pillar supporting the country’s GDP. The sector is responsible for around 60% of Zimbabwe’s export earnings and remains as one of the main sources for the much welcome foreign currency inflow.

FurtherAfrica spoke to the Hon. Winston Chitando, Zimbabwe’s Minister of Mines and Mining Development for an open conversation about Zimbabwe’s mining sector, its challenges, new prospects and raising opportunities. Min. Chitando has a remarkable record in his country’s mining industry spanning well over 3 decades. Previous to his appointment as Zimbabwe’s Minister of Mines and Mining Development, he has held several different positions in major companies such as …