Raw chrome export volumes capped

Prosper Ndlovu Business Editor
THE government has placed a cap of 200,000 metric tonnes on raw chrome exports to end of December this year in a move aimed at enhancing viability of local smelting firms.

Finance and Economic Development Minister Patrick Chinamasa told Parliament Tuesday that out of the projected 500,000 metric tonnes of chrome production in 2015, the bulk of it would be reserved for local smelting.

The move buttresses the value addition and beneficiation thrust as espoused in the country’s economic blue-print, Zim-Asset.

“With regards to chrome, notwithstanding the lifting of the ban on the export of chrome ore, the government has ring-fenced some ore requirements for local chrome ore smelters,” said Chinamasa.

“In 2015 alone, out of projected output of about 500,000 metric tonnes, about 300,000 metric tonnes of chrome ore will be set aside for smelting, leaving only about 150,000 to 200,000 metric tonnes for export in raw form.”

Minister Chinamasa said in 2013 and 2014 the country produced chrome ore of 355,142 and 408,422 metric tonnes respectively.

The government lifted the four-year ban on chrome ore exports in June this year to boost foreign earnings from the sector and enhance viability of small scale miners.

Four potential international buyers of the mineral have since been identified while issuance of export licences to local producers is underway.

Based on the above trend, together with new measures put in place during the second quarter of the year on supporting chrome ore producers through lifting the ban on export of chrome ore together with the reduction in Zesa tariffs as well as capacitating the NRZ, Chinamasa said this provides a conducive environment for increased production to about 500,000 metric tonnes in 2015, as indicated by the producers.

“The key incentive here is the lifting of the ban on the export of raw chrome,” he said.

The minister said measures to ensure the speedy beneficiation of other minerals such as gold and platinum were underway.

On gold, he reiterated government’s position to licence only Fidelity Printers as the sole buyer and exporter of gold.

“On the other hand, jewellery manufacturers are also being provided with some refined gold for further processing into jewellery,” he said.