Trade Winds bimonthly update volume 3
Zimbabwe owned Rio Energy Ltd, with the help of Chinese owned China Gezhouba Group Corp will be in, collaboration, building a new 2,100 megawatt thermal power plant in northern Zimbabwe with a staggering price tag of $3 Billion.
“CGGC will develop the project and assist with the fund raising,” Caleb Dengu, chairman of Rio Energy Ltd said last week.
Construction of the Sengwa power plant will be done in four phases, counting of around 700 megawatts in each phase, adding a total capacity of 2,800 megawatts to the grid.
“We have coal reserves to support a 10,000 megawatt plant at Sengwa,” Dengu said.
This will hopefully over time tackle the energy challenges Zimbabwe face as they import and generate a combined 1,300 megawatts short of its 2,200 megawatt demand.
Business as usual for borders within Zimbabwe, Beitbridge and Chirundu are open for Business, commodities are flowing in and out however they are being stopped for inspection to ensure that they conform to what ZIMRA deems “essential”.
South African’s eagerly await the latest confirmed announcements with regards to the new “Risk Adjustment Strategy” as the various sectors are expected to slowly open up from next week, there is still some grey areas as to which metros will be operating at Level 4 and which will be remaining at Level 5 also known as “Hard Lockdown”.
Mining Giants Gold Fields have projected a 32,000 ounce loss of production at its South Deep mine in South Africa due to a nationwide lockdown.
The miner, which has operations in South America, Australia and West Africa advised that gold production for the quarter ended March 31 was 537,000 ounces, down from 542,000 ounces a year earlier.
“The impact of the pandemic has been relatively muted on our operations, with production only slightly affected. However, the situation is fluid and there is the possibility of further lockdowns and restrictions in the countries in which we have a presence which may lead to production disruptions in future,” Gold Fields said.
Unfortunately, some mines are feeling the effects of the pandemic and lock down as South African gold miner Village Main Reef has started its retrenchments process of workers at its West Gold Plant, Tau Lekoa and Kopanang mines.
The National Union of Mineworkers (NUM) has said that as many as 6 309 workers could be without jobs, although NUM had not been properly informed of the potential job losses, they have called on the mines ministry to intervene.
Leaving off on a positive note, South Africa’s 26 years of Democracy was celebrated this past Monday and the world joined in by displaying the colours of the country’s flags on some of their landmarks.
Images of the late former president Nelson Mandela were also put up in the famous Times Square in New York.
“It is during our darkest moments that we must focus to see the light.”