Cabinet has agreed to a policy change whereby all chrome ores will be traded through the Minerals Marketing Corporation of Zimbabwe (MMCZ).
The move will see the MMCZ, through a Chrome Ores Coordination Committee, setting quarterly prices of chrome ore which miners and traders will trade at.
Meanwhile, as announced by Information Minister Monica Mutsvangwa during post cabinet briefing, Cabinet has also approved a number of special grant applications in the following categories:
– extension to current special grants which have successfully been exploited;
-empowerment of war veterans syndicates; and -strategic development & expansion projects towards the US$12bn milestones.
Apparently, Zimbabwe has the world’s second-largest reserves of high-grade chromium ore after South Africa, with deposits of about 10 billion tonnes, equivalent to around 12% of the global total, according to the Zimbabwean Ministry of Mines & Mining Development.