MMCZ pushes for total ban on chrome ore exports

Business ReporterThe Minerals Marketing Corporation of Zimbabwe (MMCZ) says it will engage the Ministry of Mines and Mining Development to advocate for a complete ban on chrome ore exports.The strategic push comes as the global chrome ore and concentrate market faces significant pressure from weak stainless steel demand and growing stockpiles in China, where port inventories have swelled to nearly 2,9 million tonnes.The call for a total ban aims to further encourage investment in local beneficiation facilities, aligning with Zimbabwe’s long-standing policy of value addition.While a ban on raw chrome exports is in place to promote domestic processing, the Government retains the discretion to issue special licenses with quotas, allowing certain entities to export raw chrome.“Despite a positive long-term outlook for the global chrome market driven by expected stainless-steel production growth, the chrome ore and concentrate market remained pressured by weak global stainless-steel demand and growing stockpiles in China,” MMCZ general manager Dr Nomsa Moyo said.“This necessitates a strategic review of chrome ore export policies given the current market oversupply.”Conversely, the ferrochrome sector, which processes chrome ore into a higher-value product, is anticipating an increase in sales in the second half of 2025. The positive forecast is attributed to new production capacities coming online and a stabilising market for the refined product.Share on FacebookPost on XFollow usSave

Originally published on Zimbabwe Herald

Source: Zimbabwe Herald