The steel manufacturing sector in Zimbabwe has backed the government’s decision to ban the export of chrome ore as this will help them secure ferrochrome at lower prices.
Harare announced the chrome ore and chrome concentrate export ban in August last year.
However, the chrome concentrate export ban will come into effect in July this year.
“Zimbabwe foundries will be able to get all grades of ferrochrome at better prices as opposed to current high import cost,” Institute of Zimbabwe Foundries president Itai Zaba was quoted as saying by The Herald.
“This means we will lower our cost of production and make our products cheaper on the market.”
He said the ban will also help Zimbabwe beneficiate its chrome ore.
Zimbabwe has the world’s second-largest reserves of chromium ore after South Africa.
It is believed to have deposits of about 10 billion tonnes, which is 12% of the global total reserves.
Mathew Nyaungwa, Editor in Chief of the African Bureau, Rough&Polished
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