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NRZ, Zimasco seal Mozambique deal

06/11/2017 00:00:00
by Business Reporter
 
 
RELATED STORIES

THE National Railways of Zimbabwe (NRZ) and local ferrochrome producer Zimasco have signed a deal with Mozambique Ports and Railways Company (CFM) which will see an increase in chrome and iron ingots exports by guaranteeing movement of large volumes of the minerals.

The service level agreement, which came into force on Wednesday last week and expires in December next year, will use the ports of Beira and Maputo along the Mozambican rail network.

“… ferro chrome and iron ingots would transported through the Machipanda and Limpopo lines, respectively,” said journalducameroun.com of Mozambique on Sunday.

“With the signing of this agreement the amount of freight using the Limpopo line next year should rise to about a million tonnes, a figure never reached before. To achieve these figures, CFM and NRZ are mobilizing the necessary locomotives and wagons."

According to the publication, approximately about a million tonnes of these minerals for export, representing around 70,000 tonnes a month, are expected to use the facility.

Those who appended signatures on behalf of the partnering companies include managing director of NRZ, Lewis Mukwada, chief executive officer of Zimasco, John Musekiwa, chairperson of the CFM board, Miguel Matabel, and the company’s executive director for operations, Agostinho Langa.

Zimbabwe’s ferrochrome production is expected to double to 300,000 tonnes this year following a government decision to allocate chrome concessions to small mining companies as part of efforts to boost output.

The country’s holds the world’s second largest deposits of chrome, which is smelted to produce ferrochrome. Raw chrome exports are expected to reach 550,000 tonnes from 285,000 tonnes.



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