- Write by:
-
Wednesday, March 10, 2021 - 2:46:21 PM
-
753 Visit
-
Print
Mining News Pro - China`s Tsingshan Holding Group is set to start developing an iron ore mine and a carbon steel plant in Zimbabwe from May, the African country`s information minister said late on Tuesday, three years after the firm first announced the investment deal.
Tsingshan signed a $1-billion outline agreement with Zimbabwe in June 2018 to build a two-million-tonne-a-year steel plant and has been carrying out exploration and seeking more mineral concessions.
The Chinese company, through its Zimbabwean subsidiary Afrochine, already produces ferrochrome, which will also be used in the production of steel.
"The ground-breaking ceremony for the iron-ore mine and carbon steel plant is scheduled for May 2021 in Manhize, Mvuma (south of Harare)" Information Minister Monica Mutsvangwa said in a statement.
The government previously said Tsingshan would also build a power station and had been given a lithium concession.
China has over the past few years emerged as a major foreign investor in Zimbabwe, with its firms mostly involved in mining of gold, chrome and diamonds and building power stations.
Zimbabwe has set out an ambitious drive to increase revenue from mining to $12-billion by 2023 by increasing output of gold, platinum and diamonds, among other minerals. Last year, minerals earned the country $2.4-billion in exports.
Short Link:
https://www.miningnews.ir/En/News/611751
Canada’s corporate ethics watchdog on Tuesday said it was likely that human rights abuses had occurred at a mine in ...
Battery metal prices are on the floor, and massive expansions by Chinese miners have been instrumental in driving them ...
Commodities usually rally when central banks cut interest rates, bolstering the case for going long raw materials in the ...
Indonesian state-controlled miner Aneka Tambang (Antam) aims to launch the construction of two nickel processing ...
Aluminum prices touched an 11-week high on Monday over concerns over slow recovery in production in China’s Yunnan ...
China’s steel industry is young compared to Europe’s, and its transition to net zero may be slower as it takes a ...
Awalé Resources (TSXV: ARIC) stock soared on Monday after the Newmont-backed gold explorer reported outstanding assay ...
French President Emmanuel Macron said on Monday the government is seeking to designate new regulated gold mining zones ...
Iron ore futures were mixed on Friday, but set for a weekly gain on mounting anticipation of a pick up in demand in top ...
No comments have been posted yet ...