Bloomberg the Company & Products

Bloomberg Anywhere Login

Bloomberg

Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.

Company

Financial Products

Enterprise Products

Media

Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000

Communications

Industry Products

Media Services

Follow Us

Chinese Contractors Add Plants at Sinosteel Zimbabwe Unit

Feb. 21 (Bloomberg) -- Contractors are adding a sinter plant and slag gravity separation unit at Sinosteel Corp.’s Zimasco smelter in Zimbabwe, increasing Chinese investment in the country’s largest ferrochrome producer.

The plants are being built by Jilin Houyan and Gold Horizon, Clara Sadomba, Zimasco’s general manager for marketing, said in an e-mailed statement today. The estimated cost of the work is $25 million, not the $250 million reported earlier in the country’s Herald newspaper.

The contractors have brought in and installed the plants at their own cost, and Zimasco doesn’t know the exact investment, Sadomba said. “However, based on our own assessment of the equipment and type of plants installed, our estimate of the capital for both the plants would be approximately $25 million.”

The plants will process sintered ore and ferrochrome fines for Zimasco’s Kwekwe refinery under contract, Sadomba said. She didn’t specify how much Zimasco will pay for each ton of processed ferrochrome. A sinter plant is used to solidify powdery and fine ore.

Zimasco mines the country’s Great Dyke mountain range and smelts its chrome in the Midlands Province city of Kwekwe. The country has the largest deposits of the mineral after South Africa.

To contact the reporter on this story: Brian Latham in Harare at blatham@bloomberg.net

To contact the editor responsible for this story: Nasreen Seria at nseria@bloomberg.net

Please upgrade your Browser

Your browser is out-of-date. Please download one of these excellent browsers:

Chrome, Firefox, Safari, Opera or Internet Explorer.