Oz Invictus Gets Environmental Okay for Zimbabwe Project

Sydney-listed Invictus Energy’s Cabora Bassa project has received environmental approval from the Zimbabwe Environmental Management Agency, the company said on August 10 in a statement.

The Environmental Management Agency (EMA) has issued environmental impact assessment (EIA) certificate and granted Geo Associates, Invictus’ 80% owned subsidiary and holder of Special Grant 4571, permission to operate in accordance with the Environmental Management Act.

The Cabora Bassa project encompasses the Mzarabani prospect, a conventional gas condensate target, which, according to the company, is potentially the largest, undrilled seismically defined structure onshore Africa.

Meanwhile, Invictus in a separate statement said that the Cabora Bassa project licence has been extended by the Zimbabwe Investment and Development Authority. Geo Associates has received notification that its application to extend the tenure of the SG 4571 licence for a further three years has been granted, subject to the company appearing before the mining affairs board to present an overview of the forward work programme, Invictus said said.

The presentation to the mining affairs board by Geo Associates was scheduled for last week but has been deferred due to Covid-19 and the enforced lockdown in the country. As a result of the meeting being deferred and the board has requested a soft copy of the presentation and confirmed that the formal presentation will occur at a future date.

“Geo Associates can confirm that the soft copy presentation has been lodged with the mining affairs board and that it has fulfilled all of its work commitments for its first three year exploration period. A comprehensive work programme has been proposed for the second three year exploration period, including a commitment to drill a minimum of one exploration well,” Invictus said.