Govt demands 1 000 more hectares of chrome claims from Zimasco for Indigenisation

The government has demanded another 1 000 hectares (ha) of chrome claims from Zimasco for distribution to indigenous Zimbabweans. Last year the company released 21 270 hectares which was 1000 hectares shot of the 22 270 hectares the government had demanded.

Zimasco is owned by Chinese investors. Together with ZimAlloys, Zimasco controlled 80 percent of the country’s chrome reserves before the surrender of the ground by Zimasco.  War veterans, women’s groups and youths are set to benefit from the redistribution of the chrome claims.

Mines and Mining Development Minister, Walter Chidhakwa said:

In order to broaden the indigenisation in the chrome sector and empowering Zimbabwean citizens to create more employment, the government directed that 50 percent of the claims held by Zimasco and ZimAlloys must be released and made available to other players to ensure wider inclusion of indigenous players in the chrome sector.

More: Financial Gazette

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