Zimbabwe poised to begin oil drilling in August

[ForceFate]

Zimbabwe poised to begin oil drilling in August - SABC News - Breaking news, special reports, world, business, sport coverage of all South African current events. Africa's news leader.

Zimbabwe is poised to begin drilling oil next month following the arrival of the first batch of drilling equipment in the country.

www.sabcnews.com

Prospective drilling for oil and gas in the Muzarabani area was initially set for June, but had to be postponed due to customs clearance delays for the drilling rig in Tanzania, where the equipment was mobilized and in Mozambique where it arrived en route to Zimbabwe.

 

[Sinbad]

Did they find the diesel Rock again?

 

[TheChamp]

Can we send our unemployed over? We promise not be too entitled and to respect the laws of the country.

 

[ForceFate]

Can we send our unemployed over? We promise not be too entitled and to respect the laws of the country.

If it's substantial and commercially viable, I don't see the average Zimbabwean benefitting. All proceeds with be siphoned to offshore accounts.

 

[TelkomUseless]

Chinese is going to make a killing ... Uganda gold , Zim oil...

 

[ForceFate]

Chinese is going to make a killing ... Uganda gold , Zim oil...

It's an Australian company that does all the exploration.

 

[TelkomUseless]

It's an Australian company does all the exploration.

When the drilling starts or oil flows then they get booted....and chinese moves in.

 

[ForceFate]

When the drilling starts or oil flows then they get booted....and chinese moves in.

Examples of similar occurrences in mining and mineral exploration?

 

[TelkomUseless]

Examples of similar occurrences in mining and mineral exploration?

Well Zim's track record speak volumes.

But lets see how this pans out. This will probably be just a select few that score...

 

[ForceFate]

Well Zim's track record speak volumes.

But lets see how this pans out. This will probably be just a select few that score...

Yes, they have atrocious track record, however, I don't recall a situation where a corporate entity in mining and mineral exploration was forcefully driven out of the country.

 

[TelkomUseless]

Yes, they have atrocious track record, however, I don't recall a situation where a corporate entity in mining and mineral exploration was forcefully driven out of the country.

True.. but what's to stop Zim government from doing it like they did with farmers etc?

edit: the sanctions etc didn't stop them.

 

[ForceFate]

True.. but what's to stop Zim government from doing it like they did with farmers etc?

edit: the sanctions etc didn't stop them.

I don't think they'll go back to that again. That part of history is complicated and the active participants are no longer in government. Mnangagwa would like to be seen as an economic reformer thus, would probably see this project to its conclusion.

But I agree anything is still possible.

 

[genetic]

What difference will it make?

Zimbabwe was the food basket of Africa. They were a net exporter of maize and tobacco. They seem to have made that work extremely well for them.

They also have one of the worlds largest diamond reserves in the Mutare district on the Mozambique border;

Some experts believe that Marange is the largest diamond discovery in generations but the find has been dogged by allegations of human rights abuses and corruption going right to the heart of Mugabe's government.

But corruption stops the wealth trickling down.

Inside Zimbabwe's controversial Marange diamond field - CNN

After weeks of negotiations with the government, CNN's Marketplace Africa show has been granted access to the controversial Marange diamond fields in eastern Zimbabwe.

edition.cnn.com

The only thing this oil reserve will do is make ZANU-PF more richer, meaning more control and less freedom making and the average Zimbabwean poorer.

 

[Mystic Twilight]

Can we send our unemployed over? We promise not be too entitled and to respect the laws of the country.

Is this before or after the whole sa xenophobic thing?

Chinese is going to make a killing ... Uganda gold , Zim oil...

Before or after the usa brings "freedom" to zim?

 

[TelkomUseless]

Before or after the usa brings "freedom" to zim?

Chinese own Africa. Africa sold to Chinese decades ago... no room for USA.

 

[TEXTILE GUY]

Staple foods vanish from tables as Zimbabweans battle hyperinflation

Zimbabwe has the highest inflation rate in the world, according to Steve Hanke, a professor of Applied Economics at Johns Hopkins University, who believes it can only be remedied by the full adoption of the US dollar.

ewn.co.za

 

[TheMightyQuinn]

Interesting to see that petrol in Zim is only very slightly more expensive than petrol in SA...

 

[Oldfut]

IMHO Australians in mining behave only marginally better than the Chinese (Wild Coast & West Coast examples).

 

[TelkomUseless]

So did the drilling start?

 

[ForceFate]

So did the drilling start?

Equipment arrived as per reports. Drilling to begin some time this month. Aren't they still on the exploration phase? I'm no mining person but I think they still have a long way before the project bears any fruit, if ever.