Moti Group, controlled by mining magnate Zunaid Moti, plans to revive four plants in Zimbabwe under its subsidiary, Africa Chrome Fields (ACF), Business Times can report.
The group has seven plants located in the Midlands Province. It has, however, been operating three with the other four shut down.
The company has since received its diesel rebate this month so that it can sustainably run its operations in an area where electricity is virtually non-existent.
The company said it was busy preparing to resume production at Plant 4, which is estimated to commence towards the end of January 2022.
With the commencement of production at Plant 4 ACF will be producing between 13,000 and 15,000 tons of high-grade chrome fines per month.
“The next phase is to revamp and upgrade the remaining three plants, the planning for which is in progress.
“It is the intention of ACF to speedily return all its plants to full production on a sustainable basis.
“ACF remains committed to its investment in Zimbabwe and continues to strive towards regaining its position as a global leader in the chrome market,” Moti Group said.
It is understood that Moti Group was also targeting other mining opportunities in lithium, platinum group metals and gold in Zimbabwe.
The latest development comes at a time when there were rumours swirling in the market that the Moti Group was considering pulling out of Zimbabwe despite investing over US$200m.