Zim likely to miss $300m chrome ore export target this year

July 7, 2017

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The Minerals Marketing Corporation of Zimbabwe (MMCZ) has indicated that local chrome producers might not achieve the projected 2017 export target of $30-million, owing to falling international commodity prices and the flooding of the traditionally lucrative Chinese market with cheap-quality ore from South Africa. Speaking on the sidelines of a Midlands regional chrome mining indaba, MMCZ deputy general marketing manager Masimba Chandavengerwa said chrome prices had dropped from about $200/t in March to about $90/t, owing the stockpilling of ore totalling about two-millions tons by dealers in China. The Asian giant remains the top consumer of chrome and chrome-based products.

Category: General