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Zimasco is this year targeting to produce in excess of 400 000 tonnes of ferro-chrome, company spokesperson Ms Clara Sadomba has said.
She said Zimasco produced 350 000 tonnes of ferro-chrome last year and expected to reach a record 418 000 tonnes by year-end.
“While 2018 production of around 350 000 tonnes was a new record for the country, new capacity planned for commissioning within the year could see a 20 percent increase in ferro-chrome production capacity to 418 000 tonnes in 2019,” said Ms Sadomba in a statement.
She said the chrome industry was expanding and was working on improving on technology to spur production.
Ms Sadomba said the replacement of old machinery with new technology will see production of ferro-chrome reaching 800 000 tonnes per annum by the year 2022.
All share
The All Share index continued to gain ground after adding 19.38 points 10.95 percent to close at 196.37 points.
Old Mutual Limited added $5,6000 to close at $33,7000, British American Tobacco Zimbabwe rose by $1,9000 to end at $32,0000, while Delta gained $0,4251 to end at $3,6264.
Other counters trading in the positive were Pretoria Portland Cement which traded $0,4075 higher at $2,4600 and Innscor Africa advanced by $0,560 to close at $2,3196.
Padenga Holdings Limited was the only counter that lost ground, trading $0,0621 lower at $1,7376
Online Reporter