Zimbabwe welcomes US investment in coal production

Zimbabwe is prepared to welcome investment in coal production from the United States following Washington's major shift in energy policy, which now seeks partnerships with African countries in coal production. The move marks a reversal of the US's long-standing opposition to fossil fuels.

Speaking at the high-level Powering Africa Summit in Washington on Friday, US Secretary of Energy Chris Wright acknowledged that Western countries, including the US, had previously discouraged African nations from developing their coal resources. He highlighted coal's critical role in global electricity generation and economic growth.

In his remarks at the summit, Zimbabwe's Energy and Power Development Minister July Moyo urged the US to encourage its private sector to invest in Zimbabwe's coal industry.

"… our plea, again to the United States as Zimbabwe: release your private sector so that they can invest directly into Zimbabwe, and we have created an environment where they will earn money because their investment will be guaranteed," he said.

Minister Moyo emphasized that Zimbabwe's abundant coal and coalbed methane resources could also benefit the agriculture industry.

"Power generation could be one aspect. We are an agricultural country, we want our fertilisers, so (with) any investment in that coalbed methane gas, we could end up doing our fertilisers, which we are importing right now, and as a country that believes very strongly in agriculture, that would be a good investment.

"So, coal with methane gas is abundant in most areas in Zimbabwe, in the north and in the south of Zimbabwe, like the Chiredzi area," he said.

He also noted that Zimbabwe has opened opportunities for independent power producers to operate in the country, allowing companies to use thermal power for their operations and feed excess electricity into the national grid.

US Secretary of Energy Chris Wright emphasized coal's historical importance in powering industrial development.

"For over a century, coal has been the largest source of electricity worldwide," he said. "It transformed our world, extended life expectancy and created opportunities. Coal will continue to be the leading energy source for decades to come. That's not a policy or a desire — it's a reality."

Wright, a scientist with extensive experience in climate change research, acknowledged that burning hydrocarbons has contributed to global warming. However, he argued that climate change is not among the world's top five or even top ten problems based on economic and scientific data.

He criticized past energy policies that prioritized climate concerns over economic development, stating that such policies have harmed both African nations and industrial economies in the West.

The Trump administration, he stressed, will take a different approach, one that prioritizes human development over rigid climate policies.

"We want to partner with Africa in technology, capital investment and energy infrastructure. You decide what works for your people — we'll work with you to make it happen," he said.

Zimbabwe's readiness to engage with US investors in coal production signals a shift towards leveraging its vast natural resources to boost industrial and economic growth. With support from American technology and capital, the country aims to enhance its energy security and drive economic transformation.