By Business Reporter – Tuesday 3 August 2021
LOCAL – HARARE (Mining Index) – CHINESE companies have been heavily investing in Zimbabwe’s chrome mining, with government announcing the availing of approximately 8,483.70ha of land to five Chinese companies intending to establish integrated chrome mining and ferrochrome smelters.
In recent years, Chinese nationals have been leading Zimbabwe’s chrome sector, with some wholly owning chrome operations while others have established joint ventures.
An Inter-Ministerial Task Team, chaired by the Ministry of Mines and Mining Development was set to coordinate implementation of the project.
“The Ministry has availed land prioritising companies intending to establish integrated chrome mining and ferrochrome smelters and these are:
➢ Amazon (Pvt) Ltd were granted 21 Chrome Claims (1 545ha),
➢ Best Trade (Pvt) Ltd were granted 13 Chrome Claims (1,052.8ha),
➢ Jin An (Pvt) Ltd– 3 831 Ha of applications for Chrome Claims still being processed,
➢ ZIMALLOYS A3 Furnace is 70% complete,
➢ Afrochine (Pvt) Ltd were granted 38 Chrome Claims (1,054.9ha),
➢ Monachrome – 1000 Ha were granted for chrome mining for ferrochrome production, and
➢ Tsing Shang was allocated iron ore claims for setting up a Carbon Steel manufacturing plant,” Finance and Economic Development minister Mthuli Ncube said last week in the 2021 mid-term budget and economic review statement.
Zimbabwe holds the world’s second largest chrome reserves with some of the world’s highest grades estimated at 900 million, approximately 12 percent of the global resource tonnes which gives Zimbabwe a competitive advantage as a supplier of chrome.
Zimasco, Afrochine, Xin Yu and Jin An operate some of the chrome smelters in Zimbabwe.
Zimasco is now owned by Sino Steel Corporation, a wholly-owned Chinese state enterprise.
Jin An went into a partnership with Zimalloys in 2015.
In 2015, Afrochine completed the construction of a ferro chrome smelter plant in Selous valued at US$25 million. ENDS// www.miningindex.co.zw
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