Chrome rakes in US$100m – by Ishemunyoro Chingwere (The Herald – June 10, 2019)

HIGH carbon ferrochrome exports have registered a 35 percent jump in the first quarter of the year compared to 85 000 tonnes produced the same period last year, earning the country US$100 million, according to official statistics.

The industry has continued to heed President Mnangagwa’s call not to export unbeneficiated chrome. The first four months of the year saw the Minerals Marketing Corporation of Zimbabwe (MMCZ) shipping out 115 000 tonnes of high carbon ferrochrome compared to 85 000 tonnes last year.

Statistics from MMCZ show that the exports also earned the country US$95,5 million up from US$84,9 million, which signifies a 12,4 percent increase in monetary value.

The jump in value added high carbon ferrochrome exports has cushioned the industry against depressed global market prices.

Low prices have been attributed to imbalances in chrome and chromium supply versus low demand coupled with global trade wars as well as an alleged scheme by some international players to suffocate prices for end users’ benefit.

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