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Friday 17 September 2021
HomeAfricaMining firm eyes US$140m chrome investment in Zim

Mining firm eyes US$140m chrome investment in Zim

A Zimbabwean company announced Monday it was investing US$140 million in a chrome processing venture in the country, in partnership wi t h South African investors.

Afrex Mining chairman Fanuel Mazone said the funds had already been raised, and that construction of the processing facility had started in central Zimbabwe.

But he said the venture faced electricity problems and logistical hiccups in imp orting some of the equipment needed.

The chief executive of the company, Leon Vorster, said Afrex Mining had engaged the government to find ways of resolving the problems.

“We have been trying to look at ways to overcome electricity shortages in Zimbab we for our processing plant to keep running once it is installed,” he said.

“We have been engaging the Ministry of Mines and Mining Development, the Ministr y of Energy and Power Development and financial institutions,” he added.

The officials said the venture had been sited near a platinum mine, where it wou ld draw ore.

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