Home Blog Page 162

Padenga to Expand Mining Portfolio with Full Acquisition of Dallaglio

0

Listed diversified concern Padenga Holdings Limited, known for its crocodile farming and leather production, has announced plans to acquire the remaining 49.9% stake in Dallaglio Investments (Private) Limited, a mining company.

By Ryan Chigoche

The acquisition follows the success of Padenga’s initial investment in Dallaglio’s mining operations. After acquiring a 50.1% stake in 2019, Padenga made substantial investments to enhance Dallaglio’s gold mining activities. These efforts have resulted in significant growth in operating profits, largely driven by the gold mining business.

Encouraged by these positive financial results and growth prospects in the gold sector, Padenga’s board has decided to pursue the full acquisition of the remaining 49.9% stake—marking a strategic move to further consolidate its position in the lucrative gold mining industry.

To facilitate this acquisition, Padenga will issue just over 253 million new ordinary shares on the Victoria Falls Stock Exchange (VFEX).

Padenga initially acquired a controlling 50.1% stake in Dallaglio in 2019 as part of its strategy to diversify beyond its core crocodile skin business. This acquisition was made through a US$19.9 million capital injection.

In an official statement, Padenga confirmed that VFEX had approved the listing and allotment of 253,003,361 additional shares, which will be exchanged for the remaining 49.9% of Dallaglio’s issued shares.

The company highlighted that its interest in the gold mining sector is driven by the industry’s long-term potential, supported by global gold demand and its ability to generate foreign currency.

The initial investment in Dallaglio and subsequent improvements in its operations have significantly boosted Padenga’s operating profits, primarily due to the success of Dallaglio’s gold mining activities.

Following this success, Padenga’s board determined that further investment in Dallaglio was necessary. In August 2023, an extraordinary general meeting (EGM) was held, where Padenga shareholders approved the acquisition of the remaining 49.9% stake in Dallaglio.

At the EGM, shareholders also passed a special resolution to increase Padenga’s authorized share capital from 800 million to 1.4 billion to accommodate the new shares required for the share swap.

Additionally, an ordinary resolution was approved to issue and allot 253,003,361 shares in Padenga to Dallaglio’s minority shareholders, representing 46.04% of Padenga’s issued and outstanding shares.

Zimplats Upholds Tax Compliance Amid Historic Disputes with ZIMRA

0

Harare, Zimbabwe – Zimplats, one of the country’s leading platinum mining companies, has reiterated its commitment to full tax compliance while navigating complex fiscal challenges and historical disputes with the Zimbabwe Revenue Authority (ZIMRA).

By Ryan Chigoche

The company, ultimately controlled by Impala Platinum BV—which holds 87% of Zimplats’ ordinary shares—has consistently filed all required income tax returns and made timely payments based on objectively determined estimates.

Zimplats emphasizes that its tax assessments are grounded in an unbiased approach and informed by specialist independent tax and legal advice.

Periodically, Zimplats faces reviews of its historical income tax matters, a reflection of Zimbabwe’s volatile and highly complex fiscal legislation. As part of its proactive risk management, the company recognizes potential liabilities arising from anticipated tax audit issues and uncertain tax positions, ensuring that any differences in tax computations are duly recorded.

In recent months, Zimplats initiated legal proceedings in both the Special Court for Income Tax Appeals and the Supreme Court of Zimbabwe concerning various historical income tax issues. Although the Supreme Court ruled in favor of ZIMRA on one tax matter, the ruling did not result in any financial impact, as the dispute was settled on a without-prejudice basis.

Industry experts note that such disputes underscore the significant judgment required in determining accurate tax provisions amidst a rapidly evolving fiscal environment. Zimplats’ experience serves as a reminder of the challenges faced by companies operating under complex regulatory frameworks while also highlighting the importance of maintaining transparency and adherence to statutory obligations.

As the company continues to work through these matters, Zimplats remains focused on robust tax compliance and transparent reporting, ensuring that it meets all regulatory requirements while supporting Zimbabwe’s broader economic stability.

Zimbabwe to Host High-Level Event on Sustainable Mining with Swedish Experts

0

The Swedish Embassy in Harare, in collaboration with key industry stakeholders, is set to host an exclusive business networking event to address the issue of sustainability in the mining sector.

By Ryan Chigoche

The event, which will be held on March 21, 2025, at the Newlands Country Club, aims to bring together business leaders, policymakers, and industry experts from both the public and private sectors to explore sustainable mining solutions tailored to Zimbabwe’s mining industry.

Zimbabwe’s mining sector remains a cornerstone of the country’s economy, yet it faces mounting challenges related to sustainability, environmental responsibility, and operational efficiency.

As global standards shift toward greener and more efficient mining practices, Zimbabwean stakeholders must adapt to remain competitive. The event provides a timely opportunity for industry players to gain insights into cutting-edge innovations that can drive efficiency, reduce environmental impact, and ensure long-term sustainability in the sector.

A key feature of the event will be an interactive expo where Swedish companies will showcase their latest advancements in automation, circularity, energy and water efficiency, and digitalization. These solutions aim to enhance productivity while addressing environmental concerns, helping mining operations become more sustainable and resource-efficient.

Beyond the exhibition, attendees will benefit from engaging seminars and workshops led by industry experts. These sessions will focus on best practices, policy frameworks, and emerging technologies that can be leveraged to improve Zimbabwe’s mining sector. Participants will gain valuable knowledge on how to integrate sustainability into mining operations while maintaining profitability.

The event will also facilitate business-to-business (B2B) networking, offering a platform for Zimbabwean mining firms to connect with potential investors, technology providers, and global industry leaders. These interactions could pave the way for new partnerships, investment opportunities, and knowledge-sharing that will contribute to the modernization of Zimbabwe’s mining industry.

Sweden has long been at the forefront of sustainable mining innovation, with industry giants such as Sandvik, Epiroc, Scania, Ericsson, and ABB leading the charge. These companies are renowned for their advancements in responsible resource extraction, environmental management, and digital transformation. Their expertise in integrating renewable energy, optimizing waste management, and improving operational efficiency serves as a model for Zimbabwean stakeholders looking to transition toward more sustainable mining practices.

For local industry players, this event presents a unique opportunity to learn from Swedish expertise and explore how these technologies can be adapted to Zimbabwe’s specific mining conditions. The discussions and collaborations that emerge from the event have the potential to drive meaningful change in the sector, helping mining companies align with global best practices while remaining economically viable.

As Zimbabwe strives to modernize its mining sector and tackle pressing environmental and social concerns, embracing innovative solutions is more critical than ever. This exclusive networking event serves as a key forum for fostering partnerships, sharing knowledge, and shaping the future of responsible mining in the country.

Legal Battle Looms as Community Challenges Shuntai’s Illegal Cement Factory

0

The Chegutu community, led by Bryden Country School, is considering legal action to halt the development of an illegal cement and brick molding plant, along with a nearby limestone quarry proposed by Shuntai Investments, a Chinese firm. These projects, which have raised serious environmental and health concerns among local residents, have prompted widespread alarm.

By Ryan Chigoche

  1. Bryden Country School, a 42-year-old institution in Chegutu, finds itself at the center of a growing dispute following Shuntai Investments’ proposal to build a cement and brick molding plant alongside a limestone quarry just 497 meters from the school. These projects have sparked fears that they will pose significant environmental and health risks to the local community.

Shuntai, recently fined by the Environmental Management Agency (EMA) for proceeding with the projects without the necessary Environmental and Social Impact Assessment (ESIA) certificate, has failed to respond to the school’s requests for vital information, such as the project proposal, site plans, and local authority approvals. This lack of transparency has raised serious doubts about the project’s compliance with regulatory standards.

A primary concern is the health risks posed by cement dust, which contains harmful silica. Given the prevailing southerly winds, there are fears that the dust could spread across Chegutu, affecting not only residents but also local schools, businesses, and institutions such as Chegutu Hospital. Farmers, especially those raising livestock, are also at risk, as the dust could harm animals, including day-old chicks.

In a recent meeting attended by Bryden, local residents, parents, Chegutu Municipality representatives, and the District Development Coordinator (DDC), it emerged that the local authorities had no prior knowledge of the project and that no approved plans exist for it. This has raised further concerns about regulatory oversight and the company’s transparency in its dealings.

In a statement released to Mining Zimbabwe, the Bryden School Board of Governors said, “The Chegutu community does welcome economic development and the creation of jobs; however, this must be done legally and responsibly. The brazen defiance of law and procedures by Shuntai is extremely concerning, and the community is considering approaching the courts for appropriate relief. The projects are only 4.5 kilometers from the center of Chegutu. The current aerial view of the site places the cement factory less than 500 meters from the school boundary, the quarry 360 meters from the school boundary, and a road connecting the two less than 60 meters from the school boundary—being extremely close to the cross-country course, which children run daily.”

The close proximity of these industrial activities to educational institutions and residential areas raises serious concerns regarding potential environmental and health impacts. The noise from blasting, heavy machinery, and the spread of dust are seen as direct threats to the well-being of those living and working in the area.

While the community supports economic development, they insist that it should never come at the expense of public health or the environment. This proximity has raised serious concerns about the potential environmental and health impacts. Notably, it is worth mentioning that a cement factory in Matabeleland is 11 kilometers from Bulawayo, while another in the Midlands is almost 30 kilometers from Gweru (and 15 kilometers from Lalapanzi).

The proposed Shuntai Cement Factory, however, will be just 4.5 kilometers from the center of Chegutu. Given the prevailing south-easterly winds, the factory will likely have a detrimental effect on the air quality in Chegutu. Other affected parties will include residents, businesses, institutions (such as Chegutu Hospital), and farmers, particularly those raising livestock, including day-old chicks.

Additionally, the project raises serious concerns about zoning violations. The land earmarked for the cement plant is designated for educational and institutional use, which includes Bryden School and the nearly completed Seventh-Day Adventist University. With the cement factory less than 500 meters from the school’s boundary and the quarry just 360 meters away, the proximity of these industrial activities to educational and residential areas presents significant safety risks. The noise from blasting and heavy machinery further exacerbates the situation, potentially disrupting the educational environment and affecting the well-being of residents.

While the Chegutu community supports economic development and job creation, they are adamant that such progress must be achieved legally and responsibly. The Shuntai Cement Factory and quarry, with their potential to harm public health and the environment, have sparked a strong resolve among local residents to hold the company accountable. As they prepare to approach the courts, the legal outcome could set an important precedent for industrial projects in Zimbabwe, demonstrating the need for strict enforcement of environmental and health regulations.

Shuntai’s actions are not an isolated case. Chinese companies in Zimbabwe have a long history of flouting regulations, particularly in the mining sector. Reports have frequently surfaced about Chinese-owned mining companies operating illegally, disregarding environmental standards, and failing to engage in meaningful corporate social responsibility (CSR) initiatives.

This track record has contributed to the growing mistrust of Chinese firms operating in Zimbabwe, with many local communities raising alarms about environmental damage and the exploitation of workers. The pattern of legal violations and poor compliance with local regulations in the mining and industrial sectors has fueled concerns that Shuntai’s cement and quarry projects may be yet another example of this troubling trend.

International Lithium Corp Targets Zimbabwe for Growth, Set to Announce Mining Plans

0

Toronto Stock Exchange-listed exploration and development concern, International Lithium Corp (ILC), is preparing to announce the results of its exclusive prospecting orders (EPOs), valued at US$219,250, which will mark the beginning of its mining operations in Zimbabwe. This country has been identified by ILC as a key focus for its global expansion, highlighting its importance in the company’s future plans.

By Ryan Chigoche

ILC is a Canadian firm specializing in lithium and rare metals exploration, with strategic interests in Canada, Zimbabwe, and Ireland. Being listed on the TSX, one of the world’s largest trading platforms valued at nearly US$3 trillion, ILC is in a strong position to drive growth through its mining projects, particularly in regions that are rich in mineral resources like Zimbabwe.

In a statement, ILC expressed its optimism about Zimbabwe’s potential, saying, “We see Zimbabwe as a highly strategic target market. We have applied for and are optimistic about receiving EPOs there.” While the company is actively pursuing projects in Canada, such as the Raleigh Lake lithium and rubidium project and the Firesteel copper project, it is clear that Zimbabwe is a major focal point in its global strategy.

“We see our key mission in the next decade as making money for our shareholders from lithium and other battery metals while at the same time contributing to a greener, cleaner planet and less polluted cities,” the company said in a filing to the TSX. This mission includes maximizing the value of existing projects and exploring new opportunities, with Zimbabwe playing an important role in this vision.

Zimbabwe’s rich mineral resources and position among the top 10 global producers of lithium make it an attractive destination for ILC. The company emphasized that the government of Zimbabwe has adopted a more business-friendly approach in recent years. “Zimbabwe has a well-educated population with strong experience in the mining sector,” ILC noted, “and recent legislative changes show that lithium is increasingly taken seriously at the governmental level.”

In light of these developments, ILC pointed out some important legislative changes in Zimbabwe’s mining laws that have made the country even more appealing for exploration. These include a “use it or lose it” approach to mining claims and grants, the introduction of a 5% royalty on lithium (a rate previously applied to gold and platinum), and new regulations that prohibit the export of unprocessed raw materials.

ILC believes these changes create a promising environment for generating solid returns for its shareholders while also contributing to Zimbabwe’s economic growth. The company is mindful of the broader impact, aiming to provide local employment opportunities and support the country’s economic renewal.

“We believe there’s a real opportunity to capitalize on these changes,” ILC added. “We look forward to making more announcements as our plans in Zimbabwe progress.” With its focus on Zimbabwe alongside its ongoing projects in Canada, ILC is positioning itself to make significant strides in the global mining landscape, and the company’s next steps will be closely watched by industry observers.

World Bank Flags Fiscal Dangers Linked to Mutapa’s Influence

0

The World Bank has raised concerns over Zimbabwe’s financial stability, highlighting risks associated with the country’s state-owned enterprises (SOEs) and the recently established Mutapa Investment Fund (MIF).

By Ryan Chigoche

The fund controls all state-owned enterprises, including key parastatals such as Hwange Colliery Company, the National Oil Infrastructure Company of Zimbabwe, and Petrotrade. In addition to these assets, MIF has fully taken over Kuvimba Mining House, Zimbabwe’s largest mining conglomerate, which owns major assets such as Bindura Nickel Corporation, Freda Rebecca Gold Mine, and Great Dyke Investments.

In its latest report, the World Bank noted that the presence of numerous SOEs under MIF presents a significant fiscal risk. “The presence of many SOEs presents a potentially significant and common source of fiscal risks, with government bailouts of troubled SOEs costing the government of Zimbabwe. A new source of fiscal risks emanates from the recently formed Mutapa Investment Fund. While the MIF was recently established with a view of enhancing the government of Zimbabwe’s agility to deal with SOE assets, its governance framework is underdeveloped and results in a potential overlap with other ministries’ legal oversight over SOEs.”

The World Bank further expressed concern that MIF’s ability to act as a spending authority could undermine the national budget process, exposing the government to risks linked to extrabudgetary entities. This cautionary note arrives at a critical moment as Zimbabwe grapples with inefficiencies that continue to plague its SOEs despite years of promised reforms.

In 2018, the Zimbabwean government launched a broad reform agenda aimed at addressing the challenges within its SOEs. This included measures such as liquidation, partial privatization, regulatory transformations, and structural adjustments under various ministries.

However, the expected improvements have not materialized, and these entities remain burdened by poor governance and financial mismanagement, particularly in critical sectors like mining and energy.

The concerns surrounding MIF’s growing influence have intensified, particularly after the fund acquired the remaining 35% stake in Kuvimba Mining House in February 2024 for US$1.6 billion, a transaction financed through Treasury Bills. This amount, equivalent to 5% of Zimbabwe’s GDP, has raised alarms and questions over the valuations.

Moreover, in November 2024, the Zimbabwean government amended the law to grant MIF the authority to use state assets under its control as collateral to secure loans.

Critics argue that this move significantly enhances the fund’s financial autonomy, enabling it to borrow outside the national budget framework and increasing the risk of fiscal mismanagement. The potential for misuse of state resources, combined with the fund’s already questionable governance framework, raises serious concerns about its long-term financial stability.

As Zimbabwe continues to struggle with inefficiencies in its SOEs, the full acquisition of Kuvimba by MIF and the legal amendments granting it greater financial control highlight the need for greater transparency and accountability. Without these reforms, MIF may become a vehicle for unchecked borrowing and mismanagement, further undermining Zimbabwe’s already fragile economic stability.

Overview of the Palm River Energy Metallurgical Special Economic Zone

0

The Palm River Energy Metallurgical Special Economic Zone (PREMSEZ), located approximately 20 kilometers west of Beitbridge Town in Matabeleland South Province, marks a significant step in Zimbabwe’s industrial and energy development.

Launched on February 24, 2025, by President Mnangagwa, this ambitious project is driven by Shanxi Xin Gang Nian Metallurgical Group from China. PREMSEZ represents a vital collaboration between Zimbabwe and China, aligning with Zimbabwe’s National Development Strategy 1 (NDS1) and Vision 2030.

  1. Project Scale and Scope

The PREMSEZ initiative involves major industrial and energy components aimed at bolstering both the local and national economy. It is designed to meet the increasing demand for power, steel, and employment opportunities in Zimbabwe while positioning the country as a regional player in industrial production and export.

Key Industrial Outputs:

  • Power Generation: PREMSEZ aims to produce a total of 1,200 megawatts (MW) of electricity, combining thermal power sourced from local coal and renewable solar energy.
  • Coal Production: The project plans to produce 1 million tonnes of thermal coal annually, extracted from the nearby Thuli Coal Mine.
  • Coking Coal: 500,000 tonnes of coking coal will be produced annually to support metallurgical processes within the zone.
  • Steel Production: The carbon and stainless steel plant will yield 1 million tonnes of steel per year, serving both domestic demand and export markets.
  1. Energy Generation Technologies

A core innovation of the PREMSEZ project is its diversified approach to energy generation, integrating multiple sources to provide reliable power for industrial and residential use.

  • Thermal Power Generation: The thermal power plant will use local coal reserves to generate 1,200 MW of electricity. President Mnangagwa mentioned that flue gas desulfurization (FGD) and other emission control technologies will be employed to ensure environmental sustainability. The first phase includes the completion of a 100 MW thermal power plant, expected to deliver 50 MW by March 2025.
  • Solar Power Integration: A hybrid solar power facility will be built alongside the thermal plant to complement the energy mix, contributing to Zimbabwe’s goal of expanding clean energy capacity. The solar power plant will support daytime energy demand and offset reliance on coal during peak sunlight hours.
  • Hydropower Contribution: Although specifics about hydropower were not provided in the initial announcements, the potential for water resource-based power generation could diversify the project’s energy sources, contributing to Zimbabwe’s energy security.
  1. Metallurgical and Steel Production Process

The steel production process at PREMSEZ will use state-of-the-art blast furnace technology in combination with electric arc furnaces to efficiently convert raw materials into different steel grades.

  • Carbon Steel: Primarily used in construction, infrastructure, and manufacturing, carbon steel will meet the growing needs of Zimbabwe’s industrial sector.
  • Stainless Steel: Higher-value stainless steel products will be manufactured for both local and export markets, enabling Zimbabwe to move up the value chain in mineral processing and beneficiation. The project’s strategic location near the South African border facilitates efficient export logistics.
  1. Environmental Considerations and Emission Controls

Given global concerns about climate change and environmental sustainability, PREMSEZ has integrated robust environmental control measures into its operations.

  • Emission Recycling and Waste Reduction: Emissions from the thermal power plants will be captured and repurposed for energy generation, reducing the overall environmental footprint.
  • Carbon Capture and Storage (CCS): Although detailed plans for CCS technologies are yet to be fully outlined, the government has emphasized the importance of reducing greenhouse gas emissions in line with global sustainability goals.
  • Sustainable Mining Practices: As emphasized by President Mnangagwa, the project incorporates sustainable practices by integrating local communities in project planning and decision-making. The company has committed to Corporate Social Responsibility (CSR) initiatives, such as providing clean water, building clinics, and setting up a vocational training program in partnership with local institutions.
  1. Economic Impact and Strategic Importance

The US$3.6 billion investment in the PREMSEZ project is a major boost to Zimbabwe’s economy, offering both direct and indirect employment opportunities. The facility is expected to create thousands of jobs in energy production, mining, steel manufacturing, and ancillary services.

According to President Mnangagwa, by 2030, PREMSEZ will produce:

  • 500,000 tonnes of thermal coal per year,
  • 500,000 tonnes of coking coal,
  • At least 250 MW of power, and
  • 1 million tonnes of steel annually.

PREMSEZ’s proximity to both rail infrastructure and the South African border enhances its strategic importance, facilitating the smooth transport of raw materials and finished products. The zone is poised to become a vital industrial and trade hub for Zimbabwe and its neighbors.

  1. Technology Transfer and Bilateral Cooperation

The partnership between China and Zimbabwe on this project extends beyond infrastructure development to include technology transfer and skills training. President Mnangagwa highlighted the importance of cooperation between Shanxi Engineering Vocational College and Harare Polytechnic to train Zimbabwean students in fields such as metallurgy, mechanical engineering, and electrical engineering. This partnership will ensure that Zimbabweans are well equipped to manage and operate the advanced facilities within PREMSEZ.

Conclusion

The Palm River Energy Metallurgical Special Economic Zone is set to become a cornerstone of Zimbabwe’s industrial and energy landscape. With its diversified energy generation capabilities, state-of-the-art metallurgical processes, and strong environmental safeguards, the project aligns with Zimbabwe’s goals for industrialization and economic growth under Vision 2030. This initiative not only strengthens Zimbabwe’s domestic infrastructure but also positions the country as a regional leader in steel production and energy generation, with significant export potentia

Caledonia launches IT Modernisation at Blanket Mine to Boost Efficiency, Safety

0

Zimbabwe gold-focused mining and exploration company Caledonia Mining Corporation has launched a strategic IT modernisation initiative at its flagship Blanket Mine, aimed at creating a data-driven smart mine. The move is expected to enhance operational efficiency, worker safety, and overall productivity while ensuring a more sustainable operation. Mining Zimbabwe can report.

By Rudairo Mapuranga

Speaking on the modernisation strategy, Caledonia said the strategy includes the implementation of new technologies aimed at automating processes and enabling real-time data collection, which is crucial for informed decision-making. By leveraging these advancements, Caledonia is positioning Blanket Mine to operate with greater efficiency while ensuring enhanced safety for its workforce.

“The IT modernisation at Blanket Mine involves upgrading and integrating new technologies to improve operating efficiency, ensure employee safety, and boost productivity. This process is aligned with our strategic goals of building a data-driven mine and maintaining sustainable production levels,” the gold miner said.

One key component of the modernisation is the implementation of automated processes within operations. By leveraging real-time data collection, Blanket Mine will improve decision-making and operational performance. Caledonia emphasized that the introduction of cutting-edge technologies would enable the mine to maximise value for shareholders while supporting a sustainable business model.

“We aim to maximise value for our shareholders by increasing efficiency across our operations while reducing costs and environmental impact,” the company stated.

A significant upgrade to Blanket Mine’s infrastructure includes the introduction of biometric access controls. This system requires employees to scan in at the main gate and undergo breathalyser tests upon entry, ensuring strict adherence to safety protocols. Moreover, workers with overdue training or certifications will be notified during clock-in and will not be granted access to the mine until they complete the required training.

In addition, Blanket Mine will install underground clocking points at all shaft entrances and various checkpoints, which will allow management to track the location of employees in real-time. This system will enhance safety by ensuring all workers are accounted for at any given time.

To further improve safety and operational efficiency, Caledonia will deploy advanced surveying tools such as underground scanners and LiDAR technology, which will be used to map underground and surface areas. The data collected from these tools will be transferred to a point cloud system, enabling accurate 3D geological models. The company also plans to use drones to monitor tailings facilities continuously.

“With the introduction of these technologies, we are enhancing our ability to manage geological models, ensuring better accuracy and efficiency in our mining processes,” Caledonia added.

In terms of workforce development, Caledonia is prioritising the upskilling of employees. A new IT training room has been built at Blanket Mine, and a learning management system will be used to deliver flexible, online training to employees. This initiative ensures that workers can balance their job responsibilities with continuous learning and skill enhancement.

Caledonia highlighted the importance of building a platform for consolidated reporting, which will provide real-time dashboards for monitoring and decision-making.

“The modernisation of technologies and processes within Blanket Mine will contribute to our long-term goals of maintaining production at around 75,000 to 80,000 ounces and becoming a multi-asset gold producer in Zimbabwe,” the company said.

With this IT modernisation initiative, Caledonia Mining Corporation is demonstrating its commitment to boosting operational efficiency, improving safety, and ensuring a sustainable future for Blanket Mine. By adopting these innovative technologies, the company is setting the stage for continued growth and success.

Invictus’ Conservation Efforts Save Zimbabwe’s Wildlife and Forests

0

 

While Invictus Energy is making strides toward becoming a major energy producer in Sub-Saharan Africa, the company is demonstrating that its commitment extends beyond energy exploration. With its Cabora Bassa in Muzarabani showing significant gas-condensate potential, Invictus is setting the standard for responsible environmental, social, and governance (ESG) practices in the country, Mining Zimbabwe can report.

By Rudairo Mapuranga

A core element of Invictus’ strategy is ensuring that its work does not come at the expense of Zimbabwe’s rich biodiversity and local communities. Through its proactive conservation and sustainability initiatives, the company has made substantial contributions to protecting wildlife, reducing deforestation, and supporting local communities, all while advancing its energy production goals.

In 2022, Invictus entered a 30-year partnership with the Forestry Commission of Zimbabwe (FCZ) to protect 300,000 hectares of indigenous forests near Hwange National Park under the NGS REDD+ project. This collaboration focuses on vital conservation efforts, including anti-poaching initiatives, fire prevention strategies, and reforestation programs, all aimed at preserving Zimbabwe’s natural heritage.

One of the most significant threats to these protected forests has been wildfires, which have devastated the region for over a decade. According to Invictus Field Operations Supervisor Garth Pritchard, the wildfires, exacerbated by ongoing drought, posed a grave risk to wildlife and the ecosystem.

“There have been constant fires every year over the last decade, and it’s devastated the forests. Local authorities didn’t have the resources to respond to those fires adequately, so they just burned out of control. We realised if we didn’t do anything, it was going to be a disaster,” said Pritchard.

To tackle this issue, Invictus, in partnership with the FCZ, embarked on an extensive fire prevention campaign, clearing roads and establishing fire breaks—referred to as fire guards in Zimbabwe—across the region. These measures proved instrumental in preventing wildfires in 2024, marking the first time in six years that the area remained fire-free.

“These forests are home to iconic African animals, such as elephants, lions, and buffalo,” Pritchard added. “Due to the fire guards and road-clearing efforts, thousands of animals were saved, and wildlife could move freely between parks and forests with better access to food and water.”

The positive impact of these initiatives extends beyond conservation. Businesses in the region have also benefited from Invictus’ efforts. Mark Butcher, Managing Director of Imvelo Safari Lodges in Hwange, praised the company’s role in preventing wildfires, emphasizing that without their intervention, thousands of animals, including elephants, would have been lost.

“We dodged a bullet in southern Hwange this year – the work Invictus did last year was instrumental in ensuring that the forests didn’t burn down again, which saved thousands of elephants,” Butcher said.

In addition to fire prevention, Invictus has tackled another pressing issue: wood poaching. Poachers target valuable trees in protected forests, contributing to deforestation and habitat destruction. Invictus’ road-clearing programs have inadvertently helped in combating poaching activities by enabling authorities to intercept illegal loggers.

“Burning these fire guards allows us to intercept these poachers and protect the forests,” Pritchard explained.

Community engagement is another cornerstone of Invictus’ conservation efforts. The company actively involves local communities in its sustainability projects, holding numerous information sessions to raise awareness about conservation and offer alternatives to the use of forest resources for firewood and grazing.

“We focus on three pillars – educate, empower, and protect – to educate the community and school students, empower communities to help, and then encourage them to continue protecting the forests,” said Invictus Country Manager Barry Meikle.

One of the long-term goals of the NGS REDD+ program is to generate measurable environmental benefits, including carbon emission reduction credits. While the development of carbon credits is a future opportunity, Meikle highlighted that Invictus is also exploring the emerging field of biodiversity credits to further enhance conservation efforts.

“Although the biodiversity credits industry is still in its infancy, I would like to see us focused on developing these credits,” Meikle said, stressing the importance of protecting ecosystems as part of the company’s long-term vision.

Looking ahead, Invictus plans to expand its sustainability initiatives by introducing projects such as community nutritional gardens, rotational grazing systems, and a recycling program aimed at addressing Zimbabwe’s plastic waste problem.

“We are trying to encourage recycling – we have a real problem with waste in Zimbabwe. We would love to clear all the roads of plastic bottles,” Meikle said.

Through its robust ESG programs, Invictus Energy has demonstrated that sustainable energy development can go hand in hand with environmental conservation. By prioritizing initiatives like anti-poaching, fire prevention, and reforestation, the company is setting a benchmark for responsible business practices in Zimbabwe’s energy sector, ensuring that both nature and the economy thrive together.

o3-mini

Gold buying prices per gram in Zimbabwe 26 February 2025

0

Gold buying prices per gram in Zimbabwe today 26 February 2025, from the official gold buyer and exporter Fidelity Gold Refinery (FGR).

SG 90% and ABOVE US$89.11g
SG ABOVE 85% BUT BELOW 90% US$88.17g
SG ABOVE 80% BUT BELOW 85% US$87.23/g
SG ABOVE 75% BUT BELOW 80% US$86.29/g
SAMPLE BELOW 10g BUT ABOVE 5g US$84.87/g

Fire Assay CASH $89.59/g

NB: Fire Assay cash price is for gold above 100gs, no sample is deducted.
For the Fire Assay Transfer price, a sample of not more than 10g is deducted
A 2% royalty is charged on all deposits (Small-scale miners)
A 5% royalty is set for Primary Producers