In a move to capacitate current chrome ore smelters and maximize the value chain, the government has approved a total ban on exports of raw chrome ore.
This gives producers of chrome concentrates a year within which to make suitable arrangements for the value addition of the concentrates, the investment of which is low capital cost and relatively easy.
Speaking at post-cabinet press briefing Minister of Information, Publicity and Broadcasting services, Monica Mutsvangwa said exports of any consignment of raw chrome will only be allowed provided that all the smelters are not in a position to take up and utilize that particular consignment.
“Cabinet received and noted with satisfaction an update on some of the mining initiatives which will help the nation to achieve a US$12 Billion mining industry by 2023,” Mutsvangwa said.
Zimbabwe is endowed with the world’s second-biggest resources of chrome ore which is required for metallurgical processes such as steel manufacturing.
“The second initiative being targeted in the achievement of a US$12 billion mining industry by 2023 involves the establishment of gold centres.
“Gold centres are expected to provide basic equipment such as compressors and jackhammers as well as working capital to facilitate optimal production by small-scale miners who supply gold ore,” Mutsvangwa said.
The total ban on the export of chrome concentrates will be effected from July 2022.