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Saturday, November 2, 2024
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Zim Alloys returns to productivity

GWERU


ZIMBABWE Alloys (ZimAlloys), one of the country’s largest ferrochrome producers, has returned to productivity after successfully switching on one of its largest smelting furnaces, signalling a new dawn for the chrome-producing firm.


11 years after stopping production, the heat is back, signalling a new chapter in ferrochrome production in the country.


The rebirth of ZimAlloys, one of the country’s largest high-grade chrome producers marks a huge rebound for ferrochrome production in the country, with the firm stating it has started on a strong production footprint producing 8 000 metric tonnes of chrome concentrate per month.


The ferrochrome miner notes there is scope to resuscitate two more furnaces to double its production figures within the next 12 months.


“We have resuscitated the first one and we are not stopping there, we plan to set up the furnaces on two more furnaces.


“We do have the resources to support that and we desire to see a huge return of ZimAlloys to the overall growth and development of ferrochrome production in Zimbabwe,” said the company’s Managing Director, Mr Deric Dube.


Zim Alloys was under judicial management from 2013 to 2021, before it was acquired by Kuvimba Mining House.


A recapitalisation package by Kuvimba Mining House has assisted in rebuilding the former ferrochrome giant, clearing foreign and domestic debt.


The firm is expanding its horizons, eyeing to utilise its estimated 73 million tonnes of proven alluvial potential of ferrochrome to support its re-establishment.


“We have a good resource which we intend to utilize to feed into three of our smelters.
We have resuscitated three chrome concentrator plants, which has almost doubled what we had in the same past month. This is all in light of reviving and restoring the business to what it used to be,” said Mr Dube.


At full capacity, this furnace can produce at least 50 thousand tonnes of ferrochrome per annum, a significant contribution to the national vision of a US$12 billion mining economy.
Story by Theophilus Chuma ZimAlloys, once owned by Anglo American, was once one of the largest ferrochrome producers.


In 2005, it was bought by Benscore, a consortium led by businessmen Farai Rwodzi and Adam Molai.


However, production was stopped in 2008, as debts mounted after a commodity price crash.

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