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Ishemunyoro Chingwere Business Reporter
AUSTRALIA Stock Exchange-listed concern, Invictus Energy, has obtained an Environmental Impact Assessment (EIA) from the Environmental Management Agency (EMA) setting the stage for the resumption of on the ground drilling exploratory work at its Muzarabani oil and gas prospect.
This comes as the mining concern has already done “stop and go” desktop exploration, which proved there were compelling results to fund the next stage of exploration.
Invictus had last year announced that ground drilling was expected to start in the first quarter of this year but progress was slowed down by the Covid-19 global pandemic, which has resulted in lockdowns meant to curtail the spread of the novel virus.
The issuing of the EIA is in line with Government policy which champions for mining to be done in an environmentally friendly manner as opposed to the wanton distraction of the environment with flagrant disregard to conservative mining methods.
In a statement released yesterday, the company advised that the EIA was done by highly regarded environmental consultants, the Scientific and Industrial Research and Development Centre (SIRDC).
The issuance of the EIA concluded the permitting requirements and enables the company to commence field activities especially exploration drilling.
The company is targeting to drill a resource definition borehole of between 3,5 to 4 kilometres at a cost of at least US$15 million.
“The company is very pleased to have the Environmental Impact Assessment and our Environmental Management Plan approved by EMA,” said Managing Director Scott Macmillan.
“The EIA survey conducted by SIRDC has been one of the most comprehensive surveys undertaken for an exploration project in the country and we thank them for their thorough and professional work.
“The ompany is also grateful for the reception and support we have received from the local community for the project to date and for our forward exploration program.
“The issuing of the EIA license is a significant milestone for the Cabora Bassa Project and marks the progression from the primary desktop studies phase to the on-ground activity phase of our exploration campaign,” he said.
Mr McMillan said the support and feedback the company has gotten so far demonstrates the cooperation of stakeholders and shareholders who are all determined to advance the oil and gas project for the benefit of the community and the country.
If successful as is widely expected, the oil and gas investment will go a long way in import-substituting for one of the country’s largest imports.
It will also go a long way in improving the economic standing of Mashonaland Central Province, particularly the two districts of Muzarabani and Mbire.
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