Tsungshan Holding obtains iron ore mining right in Zimbabwe
2018-10-19 16:21:49 [Print]
Winston Chitando, minister of Zimbabwean Mines and Mining Development Department, announced that the government has granted Tsingshan Group the right to mining iron ore in Chivhu, East Mashonaland of Zimbabwe in order to benifit Tsingshan to construct a stainless steel plant there. Before the plant is built, stable supply of iron ore, nickel and coal which is used for steelmaking should be guaranteed.
Chitando stated that Tsingshan began to take feasibility study of the plant and may invest USD1 billion for it. The annual export value of the plant is expected to reach USD2 billion. The project is another significant progress of the cooperation between Zimbabwe government and Tsingshan Group.
Chitando stated that Tsingshan began to take feasibility study of the plant and may invest USD1 billion for it. The annual export value of the plant is expected to reach USD2 billion. The project is another significant progress of the cooperation between Zimbabwe government and Tsingshan Group.
