The Sunday News
Munyaradzi Musiiwa, Midlands Bureau
GWERU-BASED ferrochrome producer, Zimbabwe Alloys (ZimAlloys), is looking forward to getting an International Standards Organisation (ISO) accreditation for its products so that they become more competitive as well as fetching more on the international market.
In an interview, ZimAlloys general manager Mr Mike Dzinoreva said the chrome smelter was working on producing low carbon ferrochrome and high carbon ferrochrome and were likely to resume operations in the first quarter of 2018 after refurbishing their blast furnaces.
Mr Dzinoreva said once the company resumes production, it would apply for ISO re-accreditation for its products to be competitive and fetch more on the international market.
He said Zimbabwe had the best quality chrome in Africa that had a potential of fetching more on the international market hence the need for an ISO certification.
“We ceased production about four months ago after switching off our M1 furnace which has a capacity of producing 330 tonnes a month. We are looking forward to resuming production in the first quarter next year.
“Once we resume production we want to apply for ISO re-accreditation so that our products become very competitive on the international market. Our product is the best in terms of quality and the market is getting an inferior product from South Africa,” he said.
Mr Dzinoreva said it would take the company close to two years to complete the refurbishment of all its furnaces and start operating on full capacity.
He said ZimAlloys would also start producing low carbon ferrochrome that was produced from chrome fines.
Chrome fines constitute more than 70 percent of the country’s chrome deposits.
Low carbon ferrochrome is a ferro-alloy used to regulate the ratio of chromium in steel production without carbon and other unwanted ingredients.
Due to high quality it is a reliable and economical alternative to metallic chromium in superalloy production.
He said once the refurbishment is done the company’s smelting capacity would increase to more than 338 000 tonnes of ferrochrome annually.
Midlands Minister of State Owen Ncube said the revitalisation of ZimAlloys would uplift the City of Gweru and create employment.
The company recently announced that it would re-engage its former workers.
Minister Ncube said the new dispensation was prioritising the revival of such companies that contribute directly to the economy.
ZimAlloys recently secured a $100 million investment deal with Indian Investor, Balasore Alloys Group.
Balasore Alloys Group, formerly Ispat Alloys Limited, is part of the renowned Ispat group of Companies, a major business house in India, promoted by the Mittals.
The group’s companies are spread across six countries including Libya, Bosnia, Philippines, Azerbaijan and Uzbekistan.
The company is working at their dump which is inclusive of one commissioned in 2013 in a partnership with a Chinese firm, Jinan in a deal worth about $2,3 million.
The company was put under final judicial management after the ferrochrome producer’s debt had risen to alarming levels.
However, bad debt-buying company, Zimbabwe Asset Management Company last year agreed to take over $21 million worth of the group’s non-performing loans which are sitting with a number of local financial institutions in a bid to clean the company’s balance sheet.
ZimAlloys has 39 175 hectares. The company together with Zimasco jointly controlled about 80 percent of Zimbabwe’s chrome ore claims, mostly found along the Great Dyke.
