Daniel Nemukuyu, Harare Bureau
A South African mining company says the Tumagole Consortium invests R55 million in the Coal-Bed mining project in Lupane.
The officials of the Tumagole Consortium, led by South African ambassadors to Zimbabwe Mphakama Mbete, called for the courtesy of the vice-president Constantino Chiwenga yesterday.
The company, when it started the gas project, under a non-binding contract, said that if this condition is binding, Zimbabwe would invest more.
Mbete Ambassadors told reporters that they signed signatures on Zimbabwe mining.
"The purpose of this meeting is to debate with Chiwenga vice president with more investment in Zimbabwe in mining.
"Today, we have brought a company called Tumagole Consortium to meet the vice president. They went into the mine," he said.
Natural gas reserves were found in the Lupane-Lubimbi area, Matabeleland North, a few decades before, but the commercial exploitation is not eliminated.
Exploration and pilot production have been carried out and have shown that this resource can be commercial use for home and industry.
Tumagole Consortium, Thapelo Tshephe, said that his company was ready to move R55 million to the Lupane gas project.
The company wants to invest R100 million in the first two years.
"The project is very good, if the contract is signed, we will allocate at least R100 million in the next two years, although the total investment is around R55 million.
"If South African banks are committed, we will also get the technical help of large companies such as Sassol," he said.
Mr Tshephe said that Tumagole has already started to work on the project to prevent a binding contract.
"VP Chiwenga's meeting was in line with the Lupane CBM project. We have already done some work, but now we have a binding contract," Mr Tshephe said.
"We will be able to supply gas to nine countries in Zimbabwe for independent electricity and gas supply."
Ambassador Mbete said that Zimbabwe and South Africa talked about how to strengthen cooperation in the field of development.
"The talks began at the beginning of December, in Boxing Day, between the two ministers of finance from both countries and the two banks of banks.
"The talks were for cooperation between both countries, and it is important to warn ministers and governors to join the two presidential guidelines.
"The talks are sensitive and very strategic. We will inform the world and the media as progress, which is so sensitive that they are currently only at ministerial level," he said.