20
Apr
12:13
Sinosteel cedes Zimbabwe chrome claims
China’s state-owned trader and steelmaker Sinosteel says it has ceded 50% of its chrome claims in Zimbabwe to the government. The country’s large chrome deposits and steel capacity have long been hampered by the political risks of investment, Kallanish notes.
Sinosteel’s subsidiaries in the country, Zimasco and Zimbabwe Alloys, own 80% of all claims to known chrome deposits, local media reports. In 2014 Zimasco produced 68% of the 260…
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