Investment Firm Masawara in Talks With Indian, Chinese Companies for CBM Exploration in Zimbabwe

Southern Africa focused investment firm Masawara is in talks with Indian and Chinese firms interested in extracting coal bed methane at its Zimbabwean block, according to news agency Reuters.

Masawara's Chief Executive Shingai Mutasa told Reuters Africa Summit on Thursday the gas would be used to substitute electricity at its agro-chemicals unit Sable Chemicals. The rest would be consumed locally and exported, the news agency reported.

The investment firm is conducting feasibility study on the commercial viability of the gas in Lupane, northwest Zimbabwe, Mutasa said.

"We have identified a gas source, which is the critical thing and we have already had several significant chemical players indicate their interest to come in," Reuters quoted Mutasa as saying.

He said that Masawara was talking to all significant players in that space, Chinese, Indian, African.