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Zimbabwe Chrome Ore Industry Got Worse

www.ferro-alloys.com: (Mabroor Ahmed, Country Manager, Pakistan)

15 June 2017

Ferro-Alloys.com:The situation of Chrome Ore in Zimbabwe remains depressed in the short-term, indicating threat to Zimbabwe’s vibrant small-scale mining industry.

The downfall of Chrome Ore prices in China Market has resulted in Zimbabwe’s Chrome Ore prices plunging from $200/MT to around $90/Ton in the last 3 months.

The Deputy Manager Marketing of Mineral Marketing Corporation Zimbabwe MasimbaChandavengerwa told that the price of Cr Ore is projected to remain depressed over the next six months. Further he said “Suppliers are affected due to the China Market, as there are almost 2 million tons of ore reserves and South Africa that is offering low quality material in cheap prices, market prices can’t be firmed in the short period. But after 5-6 months the prices can be firmed.

Ferro-Alloys.com learned that there are almost 2000 Small-Scale Cr Ore miners in Zimbabwe and 90% have contract mining or tributary arrangements with either the Zimbabwe Mining and Smelting Company (ZIMASCO) or Zimbabwe Alloys (ZimAlloys).

Chandavengerwa said there was need to finance local miners to set up smelting facilities.“When the small-scale miners are failing to sell on the international market, we should have local smelters who can buy that material so that the small-scale miners are not prejudiced. Small-scale miners can’t stockpile for six months, they need the money, and they need to be paid on time.

• [Editor:admin]