Categories: Zim Latest

Zimasco shut Kwekwe plant over prices drop

Ferrochrome producer Zimbabwe Mining and Smelting Company (Zimasco) has temporarily shut down one of its Kwekwe plants, after a sharp drop in prices for the metal.

This has been attributed to the ongoing Russia-Ukraine war, as well as the economic slowdown in key market China.

Zimasco has two plants, each with two furnaces with a combined 144 000t/annum capacity.

Zimasco is the largest integrated ferrochrome producer in Zimbabwe.

Its operational centers located in Kwekwe, Shurugwi & Mutorashanga.

Meanwhile, the Shangani Energy Exploration (SEE), a joint venture between Sinosteel of China and Zimasco, is exploring coal bed methane in the Matabeleland North Province.

It wishes to start a pilot gas production for power generation in 2024.

The project is estimated to cost US $800 million and SEE is the financer. The project consists of developing gas wells and building a 400 MW power station.

Zwnews

Share

Recent Posts

Zimbabwean Driver Locked Up in DRC After His Truck Kills 18 People in Deadly Accident

Reports from concerned drivers in the Democratic Republic of Congo (DRC) indicate that Jeremiah Kamuterera,… Read More

29th March 2024

Police Investigate Discovery of 20 Young Women Linked to Madzibaba Ishmael Cult in Harare Hideout

The Zimbabwe Republic Police (ZRP) has launched an investigation after discovering 20 young women who… Read More

29th March 2024

CAPS United Humiliated as New Boys Bikita Minerals Secure First Premiership Victory…ZPSL Results

 In an electrifying showdown at Rufaro Stadium, newly promoted side Bikita Minerals clinched their maiden… Read More

29th March 2024

No loss of value through introduction of currency stabilization measures- David Mnangagwa

The Deputy Minister of Finance and Investment Promotion David Mnangagwa has attributed the current surge… Read More

29th March 2024

Mnangagwa prematurely ends Mangudya’s tenure as RBZ governor

HARARE – President Emmerson Mnangagwa on Thursday brought forward by a month the appointment of… Read More

29th March 2024

Tragedy Strikes as Bus Plunges Off Bridge in Limpopo, Killing 45 ZCC Church Mmembers

SOUTH AFRICA: A devastating bus accident on the R518 in Limpopo's Waterberg district has led… Read More

29th March 2024