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Industry is reeling from crippling power cuts with some companies suffering lengthy unscheduled load-shedding of up to 12 hours after Zambezi River Authority (ZRA) reduced the average electricity production at Kariba Dam to 214 megawatts (MW). ZRA is a joint venture outfit owned by the governments of Zimbabwe and Zambia responsible for the management of […]

OIL and gas exploration firm Invictus Energy has received strong interest from multiple domestic institutional investors with the intent of investing into the company after the discovery of gas at Mukuyu field, NewsDay Business can report. The firm recently revealed that preliminary compositional analysis confirmed high quality natural gas containing minimal impurities, which will require […]

The Zimbabwe Electricity Supply Authority (ZESA) Holdings has announced that a system disturbance occurred at Hwange Power Station Wednesday morning. This resulted in the loss of power generation and increased load shedding nationwide. According to the Zimbabwe Power Company, Hwange was generating 774MW, Kariba was producing 300MW, and IPPs were generating 31MW. The system disturbance […]

GOLD deliveries to Fidelity Printers and Refineries (FPR) have suffered a significant decline, according to latest official data. FPR statistics shows that deliveries of the precious metal declined by 22% in February to 1,95 tonnes compared to 2,38 tonnes realised in January. Contrary to tradition where small scale miners have dominated volumes sent to the […]

Australia’s Invictus Energy is hopeful it will “within weeks” conclude a production sharing agreement (PSA) with the Zimbabwe government to develop its Cabora Bassa project following years of delays. The PSA is an important missing element as Invictus seeks to commercialise gas discoveries in the north of Zimbabwe, with energy consultancy Wood Mackenzie estimating that […]