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Invictus Moves Rig to Musuma-1 as Zimbabwe Gas Exploration Advances

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Invictus Energy has commenced moving Exalo Rig 202 from the Mukuyu-2 wellsite to its Musuma-1 exploration site in the Cabora Bassa Basin, bringing the company closer to testing a new hydrocarbon prospect outside its existing Mukuyu gas-condensate discovery area, Mining Zimbabwe can report.

By Rudairo Mapuranga

The Australian Stock Exchange-listed explorer confirmed that the relocation follows the completion and formal acceptance of the Musuma-1 wellpad, associated civil works and access roads by drilling contractor Exalo Drilling S.A.

The rig move will be followed by rig-up operations, outstanding maintenance work and final operational readiness checks before drilling begins. Invictus remains on track to spud Musuma-1 in November 2026.

Musuma-1 is targeting an estimated gross mean unrisked prospective resource of approximately 1.2 trillion cubic feet (Tcf) of gas and 73 million barrels of condensate. These figures represent potential resources that have not yet been discovered, and drilling will be required to determine whether hydrocarbons are present.

The well is considered a significant test of the wider Cabora Bassa Basin because it will target a separate play type on the basin’s Eastern Margin, beyond the Mukuyu discovery area.

Invictus has identified several prospects in the eastern part of its licence through its 2023 seismic survey, known as CB23. The Musuma-1 well is intended to test the resource potential of this area and determine whether the company’s exploration success can extend beyond Mukuyu.

Invictus Managing Director Scott Macmillan said the start of the rig relocation marked another milestone in preparations for the next exploration campaign.

“The commencement of the Rig 202 move to Musuma-1 marks another important milestone as we move closer to drilling our next high-impact exploration well,” Macmillan said.

He said the company would now focus on rig-up, remaining maintenance and operational readiness activities ahead of drilling.

The move follows several months of preparations, including securing drilling and well-services arrangements and completing the infrastructure required to accommodate the rig and support operations at the new site.

Building on Mukuyu Exploration

Musuma-1 builds on Invictus Energy’s exploration programme in the Cabora Bassa Basin, where the company has drilled the Mukuyu-1 and Mukuyu-2 wells and reported a gas-condensate discovery.

The earlier drilling programme has helped inform the company’s geological understanding of the basin and its subsequent exploration targeting. Musuma-1 will test a different area, providing further information on the extent of the basin’s hydrocarbon potential.

The distinction is important for Zimbabwe’s emerging oil and gas exploration sector. While the Mukuyu results have established a basis for continued evaluation, Musuma-1 will test whether another material accumulation exists elsewhere within Invictus’s acreage.

A successful exploration result would still require further evaluation and appraisal to establish the scale, recoverability and commercial viability of any hydrocarbons discovered.

Invictus holds approximately 360,000 hectares in the Cabora Bassa Basin, with its portfolio comprising the Mukuyu gas-condensate discovery and multiple additional exploration prospects.

The company has also advanced its regulatory framework through a Petroleum Production Sharing Agreement with the Government of Zimbabwe, providing a framework for the project’s exploration and potential future development.

For Zimbabwe, the broader significance of the programme lies in whether continued exploration can establish commercially viable domestic hydrocarbon resources capable of supporting future energy and industrial development. Any such benefits would depend on successful drilling, appraisal, development investment and the establishment of the necessary production and delivery infrastructure.

Invictus said there had been no material changes to its prospective resource estimates since the updated estimates released on September 3, 2024.

The immediate focus is now on completing the rig move and final preparations before the planned November drilling campaign.

Gold buying prices in Zimbabwe per gram/ ounce, 19 October 2026

Gold buying prices in Zimbabwe per gram/ ounce, 19 October 2026, from the official gold buyer and exporter, Fidelity Gold Refinery (FGR).

1 oz = 31.1035 g

Gold categoryUS$/gramUS$/troy ounce
SG 90% and above$126.29$3,927.79/oz
SG 85% and above but below 90%$124.95$3,886.12/oz
SG 80% and above but below 85%$123.61$3,844.45/oz
SGF/SG 75% and above but below 80%$122.28$3,803.10/oz
Sample 5g and above but below 10g$120.27$3,740.63/oz
Fire assay cash$126.95$3,948.32/oz

Note: These are direct mathematical conversions of Fidelity Gold Refinery’s quoted prices, not separate international spot gold prices. The original deductions, royalties and eligibility conditions still apply.

 

Note: The Fire Assay cash price applies to gold above 100g, with no sample deduction.

A sample of not more than 10g is deducted from the Fire Assay Transfer price.

#GoldPrices #GoldBuying #GoldMarket #GoldTrading #GoldRate #GoldPriceToday #GoldNews #PreciousMetals #GoldIndustry #GoldEconomy #FidelityGoldRefinery

AMSZ Welcomes Zimbabwe’s COMESA Chairmanship

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As Harare hosts the 25th COMESA Summit, the Association of Mine Surveyors of Zimbabwe (AMSZ) says the country’s year at the helm can turn a strong national mining story into a regional opportunity for professionals, investors, trade partners and all 21 member states.

By Stewart Gumbi, President, Association of Mine Surveyors of Zimbabwe (AMSZ)

A proud moment for Zimbabwe and its mining professionals

On October 22, heads of state and government from across Eastern and Southern Africa will gather in Harare for the 25th Summit of the Common Market for Eastern and Southern Africa (COMESA). At its close, Zimbabwe will assume the bloc’s chairmanship from Kenya for 2026–2027.

On behalf of the Association of Mine Surveyors of Zimbabwe, I warmly welcome this milestone. It is a vote of confidence in our country, and it comes at a time when Zimbabwe’s mining sector has a great deal to offer the region.

The summit theme, “One Market, One Future: Advancing Inclusive Industrialisation, Investment and Regional Integration in COMESA”, could hardly be more fitting for our industry. Regional value chains in critical minerals are on the agenda. Minerals are where industrialisation begins, and every mine, plant and railway begins with a survey.

For mine surveyors, this is our moment to show what precise, trusted mining information can do for a whole region.

What Zimbabwe brings to the chair

Zimbabwe takes the chair with a record of reform that other member states can learn from and build on.

Leading on small-scale mining. Zimbabwe is at the forefront of formalising artisanal and small-scale miners and bringing their output into the national economy. Small operators who once worked on the margins are becoming licensed, recorded contributors. That experience is valuable to every COMESA country with a large small-scale sector.

Spearheading responsible mining. Zimbabwe is driving environmental, social and governance (ESG) standards, alongside a range of environmental and health initiatives in mining communities. Responsible production is now what international buyers expect, and Zimbabwe is helping set that standard in our region.

Championing the Electronic Mining Cadastre. Through the Computerised Mining Cadastre Information Management System, Zimbabwe is moving its mining titles onto a modern digital register. Under General Notice 01 of 2025, title coordinates are captured by registered mine surveyors using survey-grade instruments. Accurate, digital boundaries mean fewer disputes, faster approvals and greater investor confidence.

A voice in the global surveying community. Through the AMSZ President, Zimbabwe has taken a seat on the Presidium of the International Society for Mine Surveying (ISM), the global hub for mining nations governed by UNESCO. Through it, our mine surveyors share experience and learn from leading mining countries. During the chairmanship, we can bring those lessons home to COMESA and carry the region’s voice to the world.

Zimbabwe is championing value addition and local mineral beneficiation by encouraging investment in domestic processing and using export restrictions to increase the share of mineral wealth retained within the country. Investments in lithium sulphate production provide a tangible example of this strategy, aiming to generate higher-value exports, skilled employment, and opportunities for local suppliers. Zimbabwe’s experience offers a practical example for other African producers seeking to strengthen their participation in mineral value chains. It forms part of a growing continental movement, reflected in beneficiation initiatives and local processing requirements in countries such as Namibia, Ghana and Tanzania, to connect mineral extraction more closely with domestic industrial development. Through its COMESA chairmanship, Zimbabwe could share lessons from this experience and promote regional cooperation on processing facilities, infrastructure and technical skills, helping African economies capture greater value from their mineral resources.

Zimbabwe has plenty to offer COMESA, and our profession stands ready to share it.

Benefits that flow in every direction

The chairmanship is not a gain for one party at another’s expense. Done well, it lifts everyone involved.

For Zimbabwe’s mine surveyors, the region becomes our marketplace. Demand for title verification, digital mapping, production reconciliation, drone and laser-scanning surveys, and mine rehabilitation work is growing across COMESA. Zimbabwean firms can partner with local professionals in other member states. Our graduates can gain experience in new mining environments, and the Zimbabwe School of Mines can host regional short courses and professional development. AMSZ’s provincial register of qualified surveyors gives clients, at home and abroad, an easy way to find the professionals they need.

For Zimbabwe’s mining industry, a higher regional profile means more investment and more partners. Verified boundaries and dependable production data make projects easier to finance. Zimbabwe’s lithium, platinum, chrome and nickel resources can anchor regional processing and battery value chains, keeping more value in Africa. Each new mine, plant, road, railway and power line creates work for engineers, surveyors, contractors and suppliers.

For our trade partners, Zimbabwe offers a more transparent and predictable place to do business. A digital cadastre shows clearly who holds which rights, and where. Independent surveys of pits and stockpiles support accurate reporting of production. Responsibly produced minerals, traceable to a recorded title, are exactly what global manufacturers and buyers are looking for.

For COMESA’s member states, Zimbabwe’s chairmanship is an invitation to cooperate. Members can share methods for cadastre systems, small-scale miner formalisation and ESG, while keeping full control of their own mining laws. A COMESA working group on mine surveying and digital cadastres could develop comparable standards and joint training. Over time, government-led mutual recognition agreements, informed by professional bodies like AMSZ, could let qualified surveyors serve the whole region. Stronger mining records across the bloc will also help curb mineral leakage and grow the revenues that fund development.

A bright future, built together

Zimbabwe’s year at the head of COMESA is a chance to show what African minerals, African skills and African cooperation can achieve together.

The AMSZ pledges its full support. We will offer our technical standards, our training partnerships and our network of registered professionals to the Government, to the Ministry of Mines and Mining Development, and to our colleagues across the region.

The opportunities ahead are vast: new markets for our surveyors, new investment for our mines, new confidence for our trade partners and a stronger, more integrated COMESA. The foundations are already laid. Now is the time to build on them.

One Market. One Future. Measured, Mapped and Built Together.

Stewart Gumbi is President of the Association of Mine Surveyors of Zimbabwe.

ZINIRE Symposium to Put Technology at Centre of Mine Safety

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Zimbabwe’s mining industry will explore how advances in rock engineering, digital modelling and ground-support technology can improve underground safety when the Zimbabwe National Institute of Rock Engineering (ZINIRE) holds its 13th Annual General Meeting and Symposium in Victoria Falls from 22 to 24 October 2026, Mining Zimbabwe can report.

By Rudairo Mapuranga

The symposium, scheduled for Friday, 23 October, at Victoria Falls Safari Lodge, will run under the theme, “Leveraging Technology for Next Generation Fall of Ground Management.”

ZINIRE Vice President and Organising Chairman Freddy Chikwiri said the industry needed to move towards a more proactive approach to ground control, using technology to inform mine design, extraction sequences and decisions on ground support.

He said the approach was relevant across Zimbabwe’s diverse mining operations, from open-pit mines and small-scale underground workings to platinum operations along the Great Dyke and deeper, high-stress gold and base-metal mines.

The technologies to be discussed include numerical modelling, advanced surveying, geotechnical monitoring, improved support materials and mechanised installation systems.

“Proactive ground control begins with extensive data gathering and predicting how the rock mass will respond before a single round is blasted,” Chikwiri said.

Modelling and Monitoring Ground Conditions

Numerical modelling will feature prominently in the programme, with Open House Management Solutions (OHMS) scheduled to conduct a Map3D training session and software demonstration on Thursday, 22 October.

The software allows engineers to model stress and displacement around mine excavations, helping them assess potential ground-control risks and examine the implications of different mining sequences before implementing them underground.

Chikwiri said the session would give rock engineers and technicians practical exposure to three-dimensional modelling and its application to their own mine layouts.

Rocscience specialists will also be available during the symposium for technical consultations on two-dimensional and three-dimensional numerical and kinematic modelling tools.

Such technologies can support decisions involving pillar extraction, multiple-reef mining and excavations affected by complex geological structures. Their usefulness, however, depends on the quality of geological information, appropriate modelling assumptions and the interpretation of results alongside actual underground conditions.

Cross-Functional Collaboration

ZINIRE has also invited the Association of Mine Surveyors of Zimbabwe (AMSZ) and the Association of Mine Managers Zimbabwe (AMMZ) to strengthen cross-disciplinary cooperation between mining, surveying and rock engineering.

Chikwiri said modern surveying tools, including three-dimensional laser scanning and photogrammetry, could provide spatial information to support ground-control assessments, deformation monitoring and hazard identification.

He also identified microseismic monitoring, instrumented ground-support units, blast-vibration measurements and underground telemetry as technologies that could improve the information available to engineers managing ground conditions.

The integration of these systems is intended to strengthen the relationship between mine design, monitoring and operational decisions rather than treating ground control as a separate compliance function.

Chikwiri emphasised that aligning rock engineers with General Managers and Mine Managers directly boosts productivity and profitability, urging executives to treat ground control as a guardrail for safe production rather than an operational bottleneck. By integrating geotechnical engineering early into capital budgeting and mine planning, operations can eliminate costly rehabilitation delays, reduce ore dilution and prevent catastrophic stope failures.

Ground-Support Technologies Take Centre Stage

The symposium will also examine developments in surface liners, chemical consolidation and support systems designed for fractured rock and demanding stress conditions.

Among the participating suppliers, Altecrete is expected to present its MineCrete S3 hybrid shotcrete and TunnelGuard thin spray-on liners. Minova Africa will discuss chemical ground-control products used in appropriate applications, from ground support to the consolidation of unstable or water-bearing ground. Tre-Altamira will present its millimetre-scale accurate satellite-based monitoring for proactive slope stability and ground subsidence monitoring.

RSC Ekusasa will showcase integrated steel and resin support systems, including RocLoc resin capsules, friction bolts and dynamic, energy-absorbing tendons.

Other suppliers are expected to demonstrate various rock-support and rock-reinforcement products and other engineered rockfall barriers designed for different ground-support requirements.

These technologies serve different purposes, from reinforcing fractured rock and consolidating weak ground to supporting excavations exposed to dynamic loading. Their selection must be guided by site-specific geological conditions, engineering design, installation quality and verified performance.

Chikwiri’s statement also highlighted product developments intended to improve early support installation and provide better indications of support loading. However, claims concerning specific performance levels and installation outcomes require technical evidence and independent assessment before they can be treated as established results.

Mechanisation and Supply Reliability

Mechanised scaling and bolting will form another part of the discussions, particularly their potential to reduce workers’ exposure to unsupported ground during critical underground operations.

Chikwiri identified automated scaling equipment and mechanised bolting rigs, including systems with remote operation and digital monitoring, as technologies that can support safer installation practices and improve quality control.

Mechanisation does not remove all ground-control risks, but appropriate equipment, operating procedures and monitoring can reduce the need for workers to undertake certain tasks directly beneath potentially unstable rock.

The availability of support materials and equipment will also be addressed. Equipment Services (Pvt) Ltd and Boltgas Industrial & Mining Supplies are expected to discuss local procurement, engineering support, rock-drilling components and the supply of ground-support consumables to mining operations.

Reliable access to these materials is important because delays or shortages can affect the implementation of ground-support plans. Technology adoption therefore involves not only acquiring equipment but also ensuring that mines have the technical expertise, consumables and maintenance support needed to use it effectively.

Zimbabwe School of Mines Laboratory Revival Proposed

Beyond the technical sessions, ZINIRE intends to use the symposium to strengthen skills development and encourage greater cooperation between mining companies, suppliers and training institutions.

The organisation has invited academic staff and students from Midlands State University, Gwanda State University and the Zimbabwe School of Mines, with free registration being offered to participating students.

Chikwiri said the event would also provide an opportunity to connect mining houses, technical specialists and equipment suppliers around the proposed resuscitation of the Zimbabwe School of Mines’ Rock Engineering laboratory in Bulawayo.

The proposed initiative could strengthen practical training and help build local capacity to assess rock properties and evaluate ground-support technologies.

However, details concerning the laboratory’s current condition, the equipment required, potential funding and the implementation timeline have not yet been outlined.

Developing local rock-engineering expertise is important for an industry operating across varied geological settings and mining methods. Better access to testing facilities and technical training could support mine design, ground-support selection and the development of skills required to manage increasingly complex underground operations.

The symposium is also expected to bring together general managers, mine managers, rock engineers, geologists, surveyors, mine planners, safety practitioners and representatives of the Mining Inspectorate to encourage a more coordinated approach to ground-control management.

For mining companies, the objective extends beyond preventing injuries and fatalities. Ground instability can disrupt production, damage equipment, increase rehabilitation costs and compromise the long-term stability of underground workings.

The challenge will be translating the technologies and engineering practices discussed at the symposium into consistent application across operations with different levels of technical capacity and financial resources.

Mines Ministry Denies Links to Zimbabwe Mining Week 2026

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The Ministry of Mines and Mining Development has publicly distanced itself from an event advertised as Zimbabwe Mining Week 2026, warning prospective participants against assuming that the programme or its associated activities have official government backing, Mining Zimbabwe can report.

By Rudairo Mapuranga

In Public Notice No. 06/2026, the Ministry said it was not associated with, did not host and had not partnered with the event promoted on www.zimminingweek.com.

The programme includes a webinar titled “Powering Zimbabwe’s Mines: Closing the Energy Gap, Enabling Energy Continuity & Cost Certainty,” scheduled for November 2026.

The Ministry’s disclaimer raises concerns about promotional materials that allegedly identify it as the event’s host and display its name alongside the National Coat of Arms without its authority, knowledge or consent.

The Ministry said it was not a host, organiser, sponsor, partner or participant in Zimbabwe Mining Week 2026 or any activities associated with the programme.

It warned members of the public, mining companies, investors and development partners that any registration, payment or submission of personal or business information connected to the event would be undertaken at their own risk.

The Ministry also stated that it would accept no responsibility or liability for losses, damages or prejudice arising from participation in the event.

The disclaimer is particularly relevant to mining industry stakeholders considering participation in conferences and webinars that advertise government involvement. Official endorsement can influence decisions by companies, investors and service providers to register, sponsor events or share business information.

The Ministry said official events and engagements involving it are communicated through its official website, verified social media platforms and recognised national media channels. Stakeholders seeking to establish whether an event has its endorsement were urged to contact the Ministry through its official toll-free line, 08004577.

The Ministry further stated that it takes the unauthorised use of its name and the use of national symbols without permission seriously, adding that it reserves the right to pursue appropriate legal action.

The notice does not, by itself, establish that the event organisers have committed an offence or that legal proceedings have commenced. The concerns raised by the Ministry relate to its stated lack of affiliation with the event and the promotional material identified in the disclaimer.

Prospective participants should verify claims of official government involvement directly with the Ministry before making payments or providing information.

The disclaimer was issued by Dr T. U. Wushe, Secretary for Mines and Mining Development.

Gold buying prices in Zimbabwe per gram/ ounce, 16 October 2026

Gold buying prices in Zimbabwe per gram/ ounce, 16 October 2026, from the official gold buyer and exporter, Fidelity Gold Refinery (FGR).

1 oz = 31.1035 g

Gold categoryPrice (US$/g)Price (US$/troy oz)
SG 90% and above$125.98$3,918.09
SG 85% and above but below 90%$124.65$3,876.71
SG 80% and above but below 85%$123.31$3,835.02
SGF/SG 75% and above but below 80%$121.98$3,793.64
Sample 5g and above but below 10g$119.98$3,731.45
Fire assay cash$126.65$3,938.92

 

Note: The Fire Assay cash price applies to gold above 100g, with no sample deduction.

A sample of not more than 10g is deducted from the Fire Assay Transfer price.

#GoldPrices #GoldBuying #GoldMarket #GoldTrading #GoldRate #GoldPriceToday #GoldNews #PreciousMetals #GoldIndustry #GoldEconomy #FidelityGoldRefinery

Kariba Solar Project Advances as Zimbabwe Seeks to Ease Mining Power Constraints

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Zimbabwe’s US$650 million floating solar power project on Lake Kariba is moving towards implementation, with the planned 600-megawatt development set to add to generation capacity as the country seeks to strengthen electricity supply for industry, including mining and mineral processing. Mining Zimbabwe can report.

By Ryan Chigoche

The project, being developed by GreenGrid Energy Private Limited, formerly Sunspire, will supply all its electricity to the Zimbabwe Electricity Transmission and Distribution Company (ZETDC), a subsidiary of ZESA Holdings, under an arrangement that makes the utility the sole off-taker.

Information Minister Dr Zhemu Soda said foundational engineering and resource mobilisation for detailed designs were under way following the completion of key preparatory and regulatory work.

“The project is valued at US$650m and entails a partnership between ZETDC, which will be the sole off-taker of the power to be generated, and GreenGrid Energy Private Limited (formerly Sunspire) as the developer of the project,” Dr Soda said at a post-Cabinet briefing.

“The project is now preparing for the implementation phase, with the traditional groundbreaking ceremony having been conducted.”

Cabinet said grid and technical studies, land surveys, environmental impact assessments and regulatory licensing had been completed. The power purchase agreement and transmission connection agreements were signed in 2025, while technical, regulatory and preparatory work was completed in July 2026.

The development comes as Zimbabwe seeks to expand mineral beneficiation, with investment in lithium processing and other mining projects increasing the importance of reliable electricity supply. Power interruptions can limit plant utilisation and disrupt production, making additional generation capacity relevant to the sector’s expansion plans.

The recently concluded lithium media tour organised by the Minerals Marketing Corporation of Zimbabwe highlighted electricity challenges facing processing operations, where supply interruptions have affected production capacity.

While the Kariba project is not specifically allocated to mines, additional generation could help strengthen the national electricity supply on which mining and beneficiation operations depend.

At full capacity, the plant is expected to provide electricity for about three million people and create 1,000 direct jobs in Kariba.

The project is also intended to diversify Zimbabwe’s generation mix and reduce vulnerability to fluctuations in hydropower output as changing water availability affects conventional hydroelectric generation.

Cabinet said the Government would maintain coordinated oversight to ensure the development is completed on schedule.

The project’s contribution to mining and the wider economy will depend on implementation, grid integration and delivery of the planned 600MW capacity.

Gold buying prices in Zimbabwe per gram/ ounce, 15 October 2026

Gold buying prices in Zimbabwe per gram/ ounce, 15 October 2026, from the official gold buyer and exporter, Fidelity Gold Refinery (FGR).

1 oz = 31.1035 g

Gold categoryUS$/gramUS$/troy ounce
SG 90% and above$124.54$3,873.31
SG 85% and above but below 90%$123.22$3,832.27
SG 80% and above but below 85%$121.90$3,791.23
SGF/SG 75% and above but below 80%$120.58$3,750.19
Sample 5g and above but below 10g$118.61$3,688.90
Fire assay cash$125.20$3,893.83

 

Note: The Fire Assay cash price applies to gold above 100g, with no sample deduction.

A sample of not more than 10g is deducted from the Fire Assay Transfer price.

#GoldPrices #GoldBuying #GoldMarket #GoldTrading #GoldRate #GoldPriceToday #GoldNews #PreciousMetals #GoldIndustry #GoldEconomy #FidelityGoldRefinery

Tharisa Expands Valterra Partnership Through PGM Offtake, Chrome Recovery Deal

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Tharisa Plc has expanded its partnership with Valterra Platinum, which will replace Sibanye-Stillwater as the buyer of half of the platinum group metal (PGM) concentrate produced at its South African mine from January 2027, alongside a collaboration to explore fine-chrome recovery and beneficiation. Mining Zimbabwe can report.

By Ryan Chigoche

Under a multi-year agreement, Valterra will purchase 50% of the PGM concentrate produced at Tharisa Mine from 1 January 2027, while Northam Platinum will retain its existing offtake arrangement for the remaining half.

The agreement broadens Tharisa’s commercial relationship with Valterra beyond the Karo Platinum Project in Zimbabwe, where the companies signed a five-year concentrate purchase agreement in August, as the miner seeks to deepen its involvement in mineral processing and beneficiation.

Alongside the offtake arrangement, the two companies will explore opportunities to recover fine chrome at Valterra’s operations using Tharisa’s proprietary Vulcan X technology. The collaboration is aimed at unlocking additional value from chrome-bearing material through improved recovery and beneficiation.

Tharisa Chief Executive Phoevos Pouroulis said the offtake agreement would provide greater certainty for its PGM production, while the chrome collaboration marked progress towards deploying its recovery technology beyond its existing operations.

“The agreement with Valterra Platinum to purchase 50% of the Tharisa Mine’s PGM concentrate from 1 January 2027, alongside Northam Platinum’s continued offtake, provides certainty for our PGM production. Equally important is our collaboration on chrome recovery and beneficiation. With the pilot plant complete and testing under way, we are taking a tangible step towards deploying our proprietary fine chrome recovery technology,” Pouroulis said.

The pilot plant has been completed, with testing under way ahead of any potential deployment at Valterra’s operations. The companies have not disclosed a commercial implementation timeline or quantified the additional chrome recovery expected from the collaboration.

Tharisa’s existing operations provide a basis for the technology partnership. The company produced 1.56 million tonnes of chrome concentrate in the financial year ended September 2026, while its chrome recovery rate improved to 70.4% in the September quarter from 68.2% in the preceding quarter. Tharisa attributed the improvement partly to Vulcan’s recovery of chrome from its processing circuit.

Valterra Chief Executive Craig Miller said the agreement would strengthen the company’s third-party processing portfolio, with the chrome collaboration offering a further opportunity to improve value from its processing operations.

“We are pleased to expand our relationship with Tharisa and further strengthen our third-party processing portfolio through the agreement to purchase 50% of the Tharisa Mine’s PGM concentrate from 1 January 2027. Our collaboration on fine chrome recovery and beneficiation is an important part of advancing opportunities to unlock value and enhance cash flow margins at Valterra Platinum,” Miller said.

The latest developments build on the companies’ August agreement covering concentrate from Karo Platinum, Tharisa’s project on Zimbabwe’s Great Dyke. Karo signed a five-year purchase agreement with Valterra for PGM and base-metal concentrate as the project advances towards production.

Karo is targeting first ore to the mill in the fourth quarter of 2027. The project is designed to produce approximately 226,000 ounces of PGMs annually at full capacity, providing a potential additional source of concentrate for the partnership once production begins.

The expanded relationship brings together Tharisa’s mining and chrome recovery technology with Valterra’s downstream processing capabilities, creating opportunities for cooperation across both PGM concentrate purchasing and chrome beneficiation.

Invictus Clears Musuma-1 Wellpad Ahead of November Drilling

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Invictus Energy has completed construction of the Musuma-1 wellpad, with drilling contractor Exalo Drilling formally accepting the site ahead of a planned November drilling start at the Cabora Bassa Project in northern Zimbabwe, Mining Zimbabwe can report.

By Ryan Chigoche

The acceptance clears the way for Exalo Rig 202 to be moved from the Mukuyu-2 wellsite to Musuma-1, following the completion of all associated civil works and access road upgrades.

Once the rig has been relocated, Exalo will undertake rig-up and finish the remaining maintenance work before conducting a final inspection and accepting the rig for drilling. The well remains scheduled to spud in November, subject to completion of these activities.

In an update, Invictus Managing Director Scott Macmillan said the completed and accepted wellpad marked an important step towards the drilling campaign.

“The completion and formal acceptance of the Musuma-1 wellpad by Exalo represents another important milestone in our preparations for the upcoming drilling campaign.

“With the wellpad, civil works and access roads now completed, we have cleared a key logistical milestone and can progress the relocation of Rig 202 from Mukuyu-2 to the Musuma-1 site.

“Our operational focus is now firmly on the rig move, rig-up and completion of the remaining maintenance activities ahead of final rig acceptance and drilling commencement,” Macmillan said.

“Our schedule remains on track to spud Musuma-1 in November, and we look forward to testing this exciting, high-impact exploration target in the Cabora Bassa Basin,” he added.

Musuma-1 will test a new play type in the eastern part of the Cabora Bassa Basin, outside the Mukuyu Gas Field. Invictus is targeting an estimated gross mean unrisked prospective resource of 1.2 trillion cubic feet of gas and 73 million barrels of condensate.

Previous drilling at Mukuyu-1 and Mukuyu-2 yielded gas discoveries, providing geological encouragement for further exploration. The outcome of Musuma-1 could help establish whether the basin’s hydrocarbon potential extends beyond the Mukuyu area.

Invictus holds an 80% interest in and operates the Cabora Bassa Project in Zimbabwe.