via Bulawayo24 NEWS | ‘No oil deposits in Zimbabwe’ 06 October 2014
Zimbabwe has no oil deposits deputy Mines minister Fred Moyo has said.
His remarks come on the back of media reports that the land locked country could be having oil and gas reserves according to an exploration exercise performed about two decades ago.
However Moyo, former managing director of two Zimbabwe Stock Exchange listed mining firms, said that from a ministry’s point of view there has been no announcement of an oil find and they have not found any oil.
He said while geologically Zimbabwe has the Karoo sedimentary basins capable of hosting gas and oil, the basis have not been adequately explored.
Moyo said the Mines and Minerals Development department was interrogating the issue and as such it will be part of the forthcoming Zimbabwe Mining Indaba agenda.
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