malvernmugadzikwa
Zimbabwe shipped its first coal to China, exporting 20 000 tonnes as part of a trial run to a customer in the cement industry.
The coal was transported via the Mozambican port of Beira, Linos Masimura, chairman of the Zimbabwe Coal Producers Association, told Bloomberg.
“There are other orders which may come through,” said Masimura, who declined to give further details of the coal contract.
While a property slump has weighed on growth, there is speculation that China may seek to reopen the economy despite its Covid Zero policy.
China is also building a vast array of new coal-fired power stations, amid concern over the global squeeze in energy supplies.
Zimbabwe usually reserves the country’s coal output for domestic electricity generation, but started shipping the fuel last year after demand dipped from the Hwange power plant.
Masimura said there has been interest from European firms, but no deals have been concluded.
“We have had some inquiries from Europe, but these for now are coming through third parties who are mostly based in South Africa,” he said.
Zimbabwe holds 553 million tonnes of proven coal reserves as of 2016, ranking 37th.
The world coal reserves are pegged at 1 139 471 trillion tonnes.
Zimbabwe has proven reserves equivalent to 163.3 times its annual consumption.
This means it has about 163 years of coal left at current consumption levels and excluding unproven reserves.
Zimbabwe consumes 3 388 555 tonnes of coal per year as of the year 2016.
Zimbabwe ranks 53rd in the world for coal consumption, accounting for about 0,3 percent of the world’s total consumption of 1 139 471 430 tonnes.
Zimbabwe consumes 241 516 cubic feet of coal per capita every year based on the 2016 population of 14,030,331 people, or 662 cubic feet per capita per day. — Bloomberg.com/Business Writer
Bongani Ndlovu