Government says it will introduce incentives to attract investment into Zimbabwe’s coal sector while moving to repossess coal concessions that have remained undeveloped for years.
Speaking at the Chamber of Mines Annual Conference in Victoria Falls, Mines and Mining Development Minister Hon. Polite Kambamura said Government recently classified coal as a special critical mineral to unlock investment, strengthen energy security and support the country’s ambition of becoming a net exporter of electricity by 2030.
Kambamura said Government is preparing incentives for investors willing to develop coal assets, arguing that coal remains an important energy resource despite global climate change debates.
He warned that companies holding coal concessions without meaningful development risk losing their licences, saying Zimbabwe cannot afford to have strategic resources lying idle.
The remarks come months after Government cancelled RioZim Energy’s licence over the vast Sengwa coal deposit, citing delays in developing the resource. RioZim’s planned 2,800-megawatt power project stalled after the Industrial and Commercial Bank of China withdrew funding in 2021 following China’s decision to end support for new overseas coal-fired power projects.
Zimbabwe holds significant coal reserves, particularly in Matabeleland North and Midlands provinces, with Government viewing the resource as critical to addressing power shortages and supporting industrial growth.
