Story by Tafara Chikumira
ZimAlloys has embarked on a massive ferrochrome smelting expansion drive, which will require a US$45 million capital injection.
ZimAlloys, one of the biggest ferrochrome producers in the country has set its eyes on a massive smelting exercise to be carried out in phases.
This comes after the company fired its first furnace in September this year after 11 years of idleness.
The firm’s development trajectory which has seen it ploughing US$7 million of the US$45 million required towards retooling, dovetails with the Second Republic’s industrialisation and reindustrialisation drive.
“I am delighted that we have begun smelting after 11 years which is part of our first phase of the expansion exercise. We are now into virgin alloy production where we are producing high carbon ferrochrome, 57 percent grade out our M1 furnace. This is the first phase of our chrome smelting plant,” said ZimAlloys Managing Director, Mr Deric Dube.
“The second phase of smelting involves exploration to feed this plant with a production capacity of 24 000 of high carbon ferrochrome per month. Our third phase involves completion of our A3 furnace which is the largest single furnace in the country which is a 31 MVA furnace, it’s an open ark and we are looking at possibilities of making it a closed furnace.
“In terms of our chrome concentrate, we are at 80 percent of our capacity utilisation, there is a potential to grow with the opening of new plants. In terms of smelting side, we believe that by the end of first phase of our ferrochrome smelting production plan we should be producing about 55 000 to 60 000 metric tonnes of high carbon ferrochrome per month that is slightly over 35 percent of capacity utilisation.”
The government commended the local company for its expansion projects which feed into the country’s National Development Strategy 1.
“Ladies and Gentlemen, allow me to commend the hard work and resilience of ZIMALLOYS management for steering the company through difficult times, managing to retain a workforce of around 300 employees while concurrently building reserves for the resuscitation of smelting operations.
“We applaud the New Dispensation for creating a conducive investment climate that has enabled ZIMALLOYS to restart operations after almost 11 years under care and maintenance. These sterling efforts underscore the Second Republic’s development trajectory that seeks to create employment and improve the livelihoods of communities by harnessing our heritage-based natural resources.
“Ladies and Gentlemen, it is important to note that these positive developments are coming at a time when the Second Republic has put in place transformative policies to improve the ease of doing business as we gravitate towards attainment of a prosperous and empowered upper-middle-income society earlier than 2030,” Midlands Minister of State for Provincial Affairs and Devolution, Honourable Owen Ncube said.
ZimAlloys resumed operations in 2021 after the acquisition of the company by Kuvimba Mining House after being placed under judicial management in 2013.
