Zimbabwe has capacity to grow its economy provided the right technology and measures to foster accountability especially in the mining sector, Africa’s sole Richotec licence holder Dr Chiedza Kambasha said.
A Richotec licence comes with RST technology that enhances a country’s capacity to quantify its mineral reserves, ascertain effects of global pattern in terms of exploration as well as establishing an industry linked with real time data.
Zimbabwe has been struggling to obtain valuable data on oil and natural gas reserves and the coming of RST technology is a turning point in separating factual speculation to actual data.
The use of the RST technology in the country’s mining sector is expected to play an important role in fostering transparency and accountability.
Dr Kambasha who is chief operating officer of Hemmingworth Cartwright Zimbabwe said necessary measures should be taken to ensure transparency and accountability in the mining sector.
“With the discovery of commercially viable and significant quantities of hydrocarbons in our sphere, Zimbabwe and the rest of the region should expect great economic benefits as world demand for liquefied natural gas remains strong. Worth billions, the quantities will satisfy our countries electricity production needs for the next 200 years.
“Zimbabwe is in position to strengthen the energy security of the region along with co-regional partners. Natural gas deposits in Zimbabwe could help develop good relations with neighbours,” said Dr Kambasha. She said the discovery of new hydro-carbon minerals is expected to bring new capital for existing domestic development and markets without the need to rely on international financiers.
Dr Kambasha said the prospecting of hydro-carbons in Zimbabwe is nothing new and accountability should be the common denominator.
“We have had multiple exercises carried out to explore this further but there have been limitations in factual data of commercially viable hydro-carbon deposits. In a paper presented in 2013, findings showed Zimbabwe’s gas reserves are actually more than all other countries in the region combined.
SADC gas resources amount to 420 billion cubic metres of CBM, while it is estimated that Hwange and Lupane areas have over 800 million cubic metres per square kilometre.
Several companies have been involved in the exploration for CBM in the country and these include Shangani Energy Exploration, China-Africa Sunlight Energy, and Discovery Investments among others.
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