News

AUSTRALIAN energy firm Invictus Energy Limited says a fluid sample analysis has confirmed high quality natural gas at the Mukuyu gas field containing minimal impurities which will require minimal processing before sale to downstream customers. The energy firm declared two material discoveries after recovering 15 downhole gas and gas-condensate samples from both the Upper and […]

Increased operating costs for 2023 and several significant one-off, non-operating costs in the final quarter resulted in reduced profit for the full year, Victoria Falls Stock Exchange-listed Caledonia Mining Corporation has said. The company expects to report an adjusted profit before tax for the year ended December 31, 2023 materially below market expectations. In its […]

THE World Bank Group (WB) says Zimbabwe needs to modernise its mining laws and introduce a competitive licensing regime offering improved security of tenure and sanctity of contract. The current legislative framework for mining under the existing Mines and Minerals Act [Chapter 21:05] dating back to 1983 has become antiquated and out of touch with […]

A sample analysis of fluid from the Mukuyu-2 rig in Muzarabani, Mashonaland Central has confirmed gas, light oil, condensate and helium presence, Mines and Mining Development Minister Soda Zhemu has revealed. Speaking at a press conference in Harare today, Minister Zhemu said the discovery would contribute immensely to Zimbabwe’s attainment of Vision 2030. – (Herald) […]

Permanent secretary in the Ministry of Energy and Power Development, Gloria Magombo has challenged stakeholders in the energy sector to make use of the country’s vast clean energy sources towards sustainably attaining the country’s development goals. Speaking at an opening cocktail of the International Renewable Energy Conference -organised by The Standard, one of three publications […]

The European Union has opened the door for local firms to access €150 billion (about US$162,55 billion) in funding opportunities from the bloc for power projects that could solve Zimbabwe’s energy crisis. EU’s top diplomat to Harare, Jobst von Kirchman, who spoke exclusively to the Zimbabwe Independent at the 5th International Renewable Energy Conference and […]

Impala Platinum (Implats) is delaying projects in Zimbabwe, including a base metal refinery and a 185MW solar plant, in response to falling platinum prices. In 2021, Impala’s Zimbabwe unit Zimplats announced a US$1.8 billion expansion plan, the single largest investment commitment into Zimbabwe in years. But Implats now has to delay some of the projects […]