Davis Index: Market Intelligence for the Global Metals and Recycled Materials Markets

China’s top stainless steel producer Tsingshan and the Zimbabwe government signed an MoU to develop an iron ore mine and build a stainless steel plant in Manhize, Mvuma. The production at the site will commence with a carbon steel plant in Manhize. The project is part of Zimbabwe’s plans to build a $12bn mining industry by 2023.


Tsingshan has invested in Zimbabwe’s through its subsidiary Afrochine, which has constructed two ferrochrome furnaces in 2020, and will start construction of an additional furnace in May. The groundbreaking ceremony for the iron ore mine and carbon steel plant is scheduled for May. Followed by setting up a fluorite and limestone plant.


Earlier in 2018, Tsingshan Group signed a deal for a $1bn steel plant in Zimbabwe. The plant was to initially produce 1mn mt of steel annually by 2022 and later expand to 2mn mt by 2026. Tsingshan had conducted geological surveys and feasibility study for the project. Tsingshan is also building a $300mn coking plant in Zimbabwe.

Leave a Reply

Your email address will not be published.