The government has warned it will repossess dormant coal concessions, saying Zimbabwe can’t afford to have strategic coal resources sitting idle while demand for reliable baseload power keeps rising.
Mines and Mining Development Minister Polite Kambamura made the latest warning, telling holders of inactive coal claims that the government would move to reclaim the assets.
“Those that are sitting on coal assets for many years, unfortunately, the government is going to take back those coal possessions,” Kambamura said.
He said Zimbabwe plans to tap into its vast coal reserves to boost domestic energy security and position itself as a major regional power exporter.
“I encourage mining companies to partner with the government in the development of coal energy, considering our vast coal deposits,” said Kambamura.
“We will be giving incentives to those who come forward to show interest in developing our coal assets.”
Earlier this year, the government cancelled RioZim Energy’s licence for the Sengwa coal deposit, citing a lack of development.
RioZim’s planned 2,800MW power project stalled after the Industrial and Commercial Bank of China pulled funding in 2021, when China cut support for new overseas coal projects.
Kambamura called out developed countries for telling others to cut coal while they reopen coal-fired power stations themselves.
“In the global arena, they are talking about climate change. But back in their own countries, they are resuscitating those coal-powered thermal plants,” he said.
“So we said our coal is now a special critical mineral for us, so that we can unlock that value, be energy-sufficient and become a net exporter of energy.
“Zimbabwe is not going to be a spectator but an active player in the entire matrix, with a loud voice for a just energy transition.”
He said Zimbabwe remains open to investors who bring capital, technology, expertise, markets and innovation, adding that when investors succeed, the whole economy benefits.
More: Business Times
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