Invictus Energy Limited, listed on both the Australian and Victoria Falls stock exchanges, has been granted approval by Zimbabwe’s Environmental Management Agency (EMA) to proceed with pilot production activities at its Cabora Bassa Project, following a successful Environmental and Social Impact Assessment (ESIA) for the quarter ending March 31, 2025.
By Ryan Chigoche
This clearance paves the way for the company to begin commercial development of the Mukuyu Gas Field and other nearby discoveries, positioning Invictus as a potential solution to Zimbabwe’s ongoing energy deficit.
According to the company’s quarterly update, the ESIA builds upon a thorough 2019 assessment—one of the most detailed environmental reviews ever carried out in the country. This approval marks a turning point in the company’s efforts to unlock the commercial potential of natural gas in the Cabora Bassa Basin.
Invictus is also spearheading a Gas-to-Power initiative at Eureka Gold Mine in partnership with Dallaglio, which owns the mine, and Spanish energy firm Himoinsa SA.
The project plans to convert natural gas from Mukuyu into liquefied form and transport it to the mine to provide a stable and cost-effective power supply, reducing reliance on the national grid.
Initial studies suggest the project could generate electricity at over US$10 per gigajoule, a rate that is competitive with current power tariffs, underscoring the economic strength of the venture.
This initiative is not only aimed at powering the Eureka Mine but could also serve as a regional energy source, especially as southern Africa continues to struggle with energy shortages.
Beyond this, Invictus is exploring further gas extraction opportunities within its broader license area, including Special Grant 4571 and Exclusive Prospecting Orders 1848 and 1849, as it looks to expand the scale of the project.
The company is currently focused on conducting detailed feasibility studies and finalising technical plans for pilot production. It is also reviewing technology partners for gas liquefaction and transportation logistics, in collaboration with Himoinsa.
By tapping into local gas reserves, Invictus aims to lower energy costs, improve electricity reliability, and stimulate industrial growth in Zimbabwe, where power outages remain a major obstacle.
This approach also supports the global transition toward cleaner energy sources, as natural gas produces significantly fewer emissions than coal or diesel fuels that currently dominate Zimbabwe’s energy landscape.
