21 January 2018
   
'Zimbabweans mentally ill after Bob horror'
Chamisa, Speaker row over G40 MP purges
ZRP reverses decision to fire top cops
Bennett: Clues sought in chopper crash
EU, UN should observe elections: Pres
ANC agrees to force Pres Zuma out
Africa 'shithole' now tourism trump card
Tsvangirai golden handshake confirmed
MORE NEWS
Buyanga responds to investment call
ZTA targets domestic tourism
MORE BUSINESS
Delight as ZBC 'Iron Lady' suspended
Sulu arrested over $4,000 child support
MORE SHOWBIZ
Cricket: ICC clears Zimbabwe's Vitori
Zidane fuels Neymar to Real talk
MORE SPORTS
Elections: Not a moment to be lost
A view beyond the Zimbabwe coup
MORE OPINION
 
Mnangagwa off to Davos empty handed
Economy: the need for a paradigm shift
MORE COLUMNISTS
 
 
Government sets Tuesday for ZimAlloys to cede its claims
07/06/2016 00:00:00
by Reuters
 
 
RELATED STORIES

GOVERNMENT has set a Tuesday deadline for the country's second largest ferrochrome producer, Zimbabwe Alloys, to hand over half its chrome claims or risk having them seized, according to a letter seen by Reuters.

Zimbabwe holds the world's second largest deposits of chrome, which is smelted to produce ferrochrome, a raw material used in the making of stainless steel.

Mines minister, Walter Chidhakwa, last year asked Zimasco, a unit of China's Sinosteel and Zimbabwe Alloys (ZimAlloys), which owned 80 percent of all chrome mining claims, to release some ground for distribution to new investors.

Sinosteel's Zimasco said in April it had ceded half its mining claims to the government.

Francis Gudyanga, a senior official in the mines ministry, said the government wanted to redistribute ZimAlloys claims to new firms as per rules it issued in October and accused the company of failing to heed the demands.

"Despite repeated efforts to have a common understanding you have remained evasive with regards to this matter," Gudyanga said in a letter dated May 30 addressed to the company previously owned by Anglo American until 2005.

"Therefore we will be giving you up to the 7th of June 2016 to present the claims to be handed over to the Ministry or risk the claims being acquired at our discretion or without notice."

Gudyanga could not be reached for comment on Tuesday.

ZimAlloys acting chief executive Kudakwashe Mahobele confirmed receiving the letter and said if the company complied, it would mean giving away nearly 20,000 hectares of ground.

Mahobele said ZimAlloys was consulting its shareholders on how to respond to the government's letter.

 

 

 



Advertisement


 
Email this to a friend Printable Version Discuss This Story
Share this article:

Digg it

Del.icio.us

Reddit

Newsvine

Nowpublic

Stumbleupon

Face Book

Myspace

Fark

 
 
 
comments powered by Disqus
 
RSS NewsTicker