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Business Reporter
GOVERNMENT has directed the Minerals Marketing Corporation of Zimbabwe (MMCZ) to be in charge of facilitating chrome ore trading in the country.
In July last year, the Government banned exports of raw chrome ore citing the need to promote domestic beneficiation.
The latest move, which reverses the temporary policy of allowing ore exports, dovetails with the beneficiation strategies outlined in the National Development Strategy 1 (NDS1), which wants mineral exports to be at least partially processed in Zimbabwe before export to add value.
Concentrated mainly along the Great Dyke, Zimbabwe’s chrome deposits are the second largest in the world after South Africa.
The mineral is part of critical sub-sectors expected to boost the vision of attaining a US$12 billion mining industry by 2023.
Information, Publicity and Broadcasting Services Minister Monica Mutsvangwa announced the policy change after Tuesday’s Cabinet meeting.
She said Cabinet agreed to a policy change whereby all chrome ores will be traded through MMCZ.
“The MMCZ, through a Chrome Ores Coordination Committee, will set quarterly prices of chrome ore, which miners and traders will trade at,” she said.
“The committee will comprise representatives of Smelters and the Chrome Small-Scale Miners Association.”
Minister Mutsvangwa said Cabinet also approved the extension to current special grants, which have successfully been exploited, empowerment of war veterans syndicates and strategic development as well as expansion projects towards the US$12 billion milestones.
Under vision 2030, President Mnangagwa’s administration has identified the mining sector as a key player towards realising an upper-middle income economy.
Online Reporter