Zimasco agrees marketing deal with US-based firm

HARARE, November 19 (The Source) – The Zimbabwe Mining and Smelting Company (Zimasco) has signed an agency agreement with New York-based Traxys to market and distribute its ferro-chrome products in North America, a deal seen reviving the struggling miner.

Zimasco seeks six-year relief on debt interest

BULAWAYO, August 29 (The Source) – Zimbabwe’s largest ferrochrome producer, Zimasco, currently under provisional judicial management, has approached banks it owes $35 million for a six and half year moratorium on interest on the pre-judicial management debts. Zimasco, majority onwed by China’s Sinosteel, applied for… Read More

Zimasco to close Shurugwi mine

SHURUGWI, March 17 (The Source) – Ferrochrome producer Zimasco will this year shut down Peak Mine in Shurugwi and lease it to private operators in a tributary arrangement, sources familiar with the development said on Monday. The company has so far retrenched 500 out of… Read More

Zimasco to retrench 1,500

KWEKWE, February 7 (The Source) – Ferrochrome producer Zimbabwe Mining and Smelting Company (Zimasco) says it will retrench half of its 3,000 workforce, citing poor metal prices and the need to contain operational costs. “Zimasco continues to pursue various cost cutting initiatives in all its… Read More

‘Midlands companies need special fund’

GWERU, November 8 (The Source) – Companies in the Midlands province, once a thriving mining and manufacturing hub, require over $250 million to revive operations and improve operational capacity, an economist has said. Major firms such as ferrochrome processors Zimbabwe Alloys and Zimasco, Bata Shoe… Read More