16/10/2021

Zimbabwe’s Strength Sector Likely and Investments to Travel Agenda at African Strength Week in Cape City | The Guardian Nigeria News

Zimbabwe signifies an remarkable new frontier, with current exploration routines leading to potent indications of major oil and gasoline potential customers. The Southern African region – bordering Mozambique to the east, Zambia to the north and South Africa to the south – has no confirmed hydrocarbon reserves nonetheless, alternatively deriving its energy generally from hydropower and coal, together with petroleum imports from neighboring international locations. Nonetheless, with the guarantee of probable potential clients in the Muzarabani Basin – which borders Zimbabwe and Mozambique – the country is sitting down on the verge of a hydrocarbon boom, set to be unlocked through overseas capital, technologies and knowledge. As Zimbabwe prioritizes the growth of its energy sector and invitations global stakeholders to examine its uncharted territory, African Electricity 7 days (AEW) 2021 in Cape City will provide as the formal platform whereby Zimbabwe will showcase its opportunity to possible traders.

In a bid to create a domestic hydrocarbon industry and reach electrical power independence, Zimbabwe has recently centered its efforts on exploration, with Australian-primarily based Invictus Vitality Confined main the way. In 2018, Invictus signed a petroleum exploration growth and creation settlement with the Authorities of Zimbabwe to check out for industrial deposits in the Muzarabani prospect. The corporation has because disclosed major hydrocarbon prospective situated in the prospect, main to a planned 2D seismic study campaign and the drilling of the to start with oil/fuel take a look at nicely in Oct/November 2021. If successful, confirmed hydrocarbon deposits could not only guide to enhanced electrical power independence by decreasing petroleum imports, but also drive gas-to-power assignments that could electricity the country’s mining sector and industrialization. In other phrases, the Muzarabani Basin has the likely to catapult Zimbabwe into both an strength and industrial hub.

In addition, the potentially hydrocarbon-abundant Muzarabani Basin could justify other commercially viable deposits in other basins across the place. In complete, Zimbabwe has 6 sedimentary basins – Kariba Basin, Tuli Basin, Mozambique Basin, Okavango Basin, Zambezi Basin and Nama Kalahari Basin – which maintain the ideal geological address for hydrocarbons, therefore warranting further more exploration. This has designed beautiful prospects for world wide explorers and upstream stakeholders wanting to money in on one particular of Africa’s final frontiers. As Zimbabwe seeks to produce its burgeoning oil and fuel sector, AEW 2021 recognizes the sizeable probable that Zimbabwe retains, and will current the nation and its expenditure chances to both of those regional and world wide stakeholders at Africa’s premier electrical power event. By uniting financiers and oil and fuel explorers with Zimbabwean companions, AEW 2021 will aid the significant investment decision specials required for the place to comprehend its oil and gasoline targets.  

In addition to oil and gas alternatives, Zimbabwe may perhaps be the solution to and a critical driver of Africa’s power changeover, boasting important mineral deposits that serve as important inputs into clear vitality systems. The country’s mining marketplace, which focuses on gold, asbestos, chromite, coal, platinum and diamonds, is created up of a various range of little- to medium-sized functions and contributes 8 percent toward the country’s GDP. However, it is the country’s lithium likely that could generate worldwide buyers into the place and propel Africa’s strength changeover. According to the International Trade Administration, Zimbabwe has the biggest lithium deposits in Africa and one particular of the best 10 reserves globally, with the country’s greatest mine – the Bikita mine – keeping close to 12.8 million tons of lithium ore with a lithium articles of 1.4%, or 150,000 tons. With the current rebound in the lithium market – in element attributed to raising desire for lithium-ion batteries involved with eco-friendly power for utilities and auto output – Zimbabwe is on the precipice of a mining sector revolution.

By showcasing the country’s prospective and positioning Zimbabwe at the forefront of Africa’s power transition, AEW 2021 will unite traders with on the ground options in 1 of Africa’s most sought soon after markets. Appropriately, AEW 2021 will travel a effective discussion on Zimbabwe and its oil, gas and lithium resource possible, as well as facilitate the crucial specials essential for the region to recognize its long-phrase progress targets. Sign up for investors, stakeholders, govt officials and policymakers at AEW 2021 and be awarded special insights into Zimbabwe’s fast-developing hydrocarbon and mineral source sectors.

Distributed by APO Team on behalf of African Electrical power Chamber.

For much more details about Africa’s premier vitality occasion, pay a visit to www.aew2021.com or
energychamber.org and/or e mail Amina Williams at amina.williams@energychamber.org

For registration-associated inquiries, be sure to get in touch with registration@aew2021.com  
For revenue-connected inquiries, you should call profits@aew2021.com 
For media-connected inquiries, remember to get in touch with media@aew2021.com 
For speaker-related inquiries, remember to get in touch with speakers@aew2021.com