Salene Chrome is a development stage, low cost, open pit asset, located in the Great Dyke in Zimbabwe. The acquisition provides geographic diversification with access to a premium chrome product, a short development timeline and a low capital requirement.
The Great Dyke of Zimbabwe contains the world’s largest known platinum group metals and high-grade chrome deposits outside of South Africa.
Salene Chrome was awarded a number of special grants in May 2018 on the eastern side of the Great Dyke of Zimbabwe allowing for the mining of various minerals.
It subsequently also applied for, and was granted, a number of licenses to the western side of the Great Dyke. Salene Chrome East covers 11 900 ha adjacent to the Great Dyke in Zimbabwe and Salene Chrome West covers 12 400 ha to the west of the Great Dyke.
The Salene Chrome project is located in a Special Economic Zone, which permits the import/export of capital without any trade barriers. Benefits beyond the expatriation of capital include a reduced tax rate, duty-free importation of raw materials and exchange control facilities.
Post published in: Business