ZIMASCO’s achievement saw established firms like Bata shoe making company, Chrome mine Oliken of Kwekwe and others falling by the wayside.
The biggest shareholder at ZIMASCO at present is Sinosteel Cooperation a multinational of China owning a 73% stake.
The company’s annual ferrochrome output is pegged at 170 000 tonnes but is set to shoot up to 235 000 tonnes following the pumping of a US$ 300 million facility by Sinosteel.
In proportion, Zimasco’s chrome ore requirements stand at 500 000 tonnes.
ZNCC President Trust Chokohora said the honor bestowed on ZIMASCO will be carried on to the national event where winners from the other three regions will be put together so as to come out with the 2010 owner of the ultimate prize.
“It is through remembering contributions made to the economy by players in commerce that we hope to be even more significant in shaping our country,” Chokohora said.
As part of its effort to boost production, ZIMASCO is building a new 60MVA furnace alongside a 600 000 tonnes per annum pelletising and sintering plant.
ZIMASCO and Zimbabwe Alloys (ZIMALLOYS) owned by a consortium of locals are the two largest ferrochrome producers in the country.
ZIMALLOS’ present output is 120 000 tonnes.
Post published in: Business