Tsingshan to Break Ground for Iron Mine & Steel Plant in Zimbabwe
Local media reported that world’s top producer of nickel and stainless steel Tsingshan Holdings Group Co’s local unit Afrochine will start construction on an
Local media reported that world’s top producer of nickel and stainless steel Tsingshan Holdings Group Co’s local unit Afrochine will start construction on an iron ore mine, a carbon steel plant in Zimbabwe in May and fluorite and limestone production plant will also soon be set up. Zimbabwe’s Information Minister Ms Monica Mutsvangwa said “The ground breaking ceremony for the iron ore mine and carbon steel plant is scheduled for May 2021 at Manhize in Mvuma, south of Harare.”
Afrochine has signed a USD 1 billion agreement in June 2018 to build the plant with capacity for 2 million tonnes of steel annually. It currently produces ferrochrome after building furnaces in 2020 and plans to construct additional furnaces in May.
The government had previously said Tsingshan would also build a power station and had been given a lithium concession.
Tsingshan is one of the largest steel making giants globally, employing 80 000 people and has an annual output of 10 million tonnes of stainless steel with a turnover of USD 30 billion.