Review and Mail Writer
Four Chinese mining companies that have invested in the country scooped awards at the 2021 Inaugural Mining Excellence Awards held in the capital last week.
The award winning companies are; Tsingshan Holdings (Ministers Award), Zhong Jian (Most Improved Producer of the Year) , Afrochine Smelting (Ferrochrome Producer of the Year) Jinyi Enterprises (Most Improved Ferochrome Producer of the Year)
The awards were meant to recognize mining companies that excelled in growing the country’s mining industry, which is a key cog in the revival of the country’s economy.
President Emerson Mnangagwa has put in place an ambitious policy document that aims at transforming the country’s mining sector into a US$12 billion industry by 2023.
The winning of the awards reflect the commitment that Chinese investors have in contributing to the growth of the Zimbabwean economy, in line with the government of Zimbabwe’s target.
Tsingshan Holdings, which, through its subsidiary Dinson Iron and Steel Company (DISCO) is establishing Carbon Steel Plant in Chivhu-Mvuma, won the Minister’s Award.
The Carbon Steel Plant, with a capacity to produce 1.2 million tonnes of carbon steel per annum, is expected to be the largest in Zimbabwe and among the largest in the region.
The plant links with projects in Dinson Colliery in Hwange (Coke Project) and Afrochine Smelting in Selous (Ferrochrome Project) in line with the Memorandum of Understanding signed with the Government of Zimbabwe.
This was after President Mnangagwa had visited the Asian country in 2018.
Afrochine Smelting (Pvt) Ltd, a leading producer of High Carbon Ferrochrome in Zimbabwe, was established in 2012 and is a subsidiary of Chinese firm called the Tsingshan Group.
The company operates five State of the art Ferrochrome Smelting Plants in Selous, Mashonaland West.
Zhong Jian is a leading coal mining company which operates in Hwange in the Matebeleland North Province.
Construction of a coke oven battery with a capacity of 300 000 tonnes per year, which the company started in 2021, is expected to contribute significantly to the value addition of coal to coke once it is completed.
China is also the top investor in Zimbabwe’s tobacco sector, where it has invested millions of U.S. dollars over the past decade which has seen the revival and expansion of the 1.6 billion U.S. dollars annual turnover leaf tobacco production.