Zisco allocates US$30m for limestone, iron ore mining operations

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REDCLIFF – As the resuscitation of the now defunct Ziscosteel Company gathers momentum, US$30
has been set aside for the planned limestone and iron ore mining operations, it has been learnt.

Kuvimba Mining House, which in March last year was approved by government has a strategic
investment partner for Ziscosteel after it collapsed in 2008, will raise US$300 million through local
sales of iron ore.
The Redcliff based company has so far spent US$2 million for limestone mining, with a production
target of 20 tonnes per month.
The revival of Ziscosteel promises to be a significant milestone in Zimbabwe's industrial resurgence,
with the potential to shape the nation's economic trajectory for years to come.
Briefing journalists recently, Ziscosteel board chairperson Engineer Martin Manuhwa said they have
spent US$2 million in limestone mining operations, and will inject another US$30 million towards
reviving the defunct company.
"As we come with relevant plans, so far into the limestone mining, about US$2 million has been
spent to re-establish that, and then US$30 million would be spent by the 1st of January next year to
refurbish the mine and start the first mining," he stated.
“Limestone mining would be ready by the end of August and they would have started mining. With
the first target of 20 tonnes per month that would be multiplied by four times in about a year to 80
tonnes per month.
Engineer Manuhwa emphasised that the company is diligently putting systems in place to ensure the
resuscitation of the steel plant is on schedule within the next five years, followed by the
commencement of mining operations the subsequent year.
“It’s a very complex process to resuscitate the steel plant, we are doing everything correct. We are
making sure that we spent the taxpayers or the money that we are using wisely and we are also
putting systems in place to ensure that the resuscitation is on schedule in the next five years for the
steel plant and the next year for the mining and then for other value chain processes like Lancashire
Steel, Zimchem. You know, Ziscosteel is an integrated steel manufacturing firm,” said the Ziscosteel
board chairperson.
Some captains of industry hailed Ziscosteel’s revival plans as it has the potential to contribute to the
economic development of the country.
“This comprehensive strategy will surely revive Ziscosteel's production capabilities and reclaim its
position as a major player in the steel industry and contribute significantly to the economic
development of the region.

“The investment in limestone and iron ore mining operations will not only provide raw materials for
steel production but also generate employment opportunities for the local community,” said a
Supervisor with a Kwekwe based steel manufacturing firm.

He hoped that Ziscosteel's revival will have far-reaching benefits beyond the immediate vicinity and
that the company's renewed operations will stimulate economic growth, attract investments, and
foster technological advancements in the steel sector.
“Additionally, the successful resurrection of Ziscosteel will boost investor confidence in Zimbabwe's
industrial landscape and position the nation as a regional leader in steel manufacturing,” he added.
Jackson Banda of Torwood, son of a former Ziscosteel employee said: “As the company progresses
with its revitalisation plans, we eagerly await further updates on the implementation timeline,
technological advancements, and employment prospects associated with the ambitious project.”

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