Zimbabwe says China`s Tsingshan to build iron ore steel plant from May

Zimbabwe says China’s Tsingshan to build iron ore mine, steel plant from May

China’s Tsingshan Holding Group is set to start developing an iron ore mine and a carbon steel plant in Zimbabwe from May, the African country’s information minister said late on Tuesday, three years after the firm first announced the investment deal.

Tsingshan signed a US$1-billion outline agreement with Zimbabwe in June 2018 to build a two-million-tonne-a-year steel plant and has been carrying out excffploration and seeking more mineral concessions.

The Chinese company, through its Zimbabwean subsidiary Afrochine, already produces ferrochrome, which will also be used in the production of steel.

“The ground-breaking ceremony for the iron-ore mine and carbon steel plant is scheduled for May 2021 in Manhize, Mvuma (south of Harare)” Information Minister Monica Mutsvangwa said in a statement.