MOSES MATENGA
Vice President General (Rtd) Constantino Chiwenga says mining giants Kuvimba Mining House and stakeholders should speed up the process to reopen Ziscosteel, an iron and steel company that has potential to improve the country’s economic fortunes.
He was speaking in Kwekwe, Midlands Province after touring the company.
The giant iron and steel company collapsed at the height of hyperinflation in 2008 and the second republic has made efforts to reopen the company with Kuvimba Mining House appointed as the contractor to push for the development.
“We want to achieve all set goals and one of those that has to be achieved during this period is the resuscitation of Ziscosteel,” Chiwenga said.
“We have got the resources that are in abundance on the country. This country needs to be reconstructed and be a modern country and a key factor in the world and the resources we have with human resources being the biggest,” he said.
“We are here to task the board and we met together with their investor KMH. We spoke at length on what we need to see happening. We were clear on what we need to see happening. Young people I see need that employment and are eager to see that happening,” he added.
Ziscosteel Chief Executive Officer Engineer Farai Karonga said the resuscitation of Ziscosteel will also see the coming back to life of Lancashire Steel and Bimco, both subsidiaries, with the company expecting to build the value of Ziscosteel to US$1.3bn in five years.
“Our main aim is to produce carbon steel from here and we are facing stiff competition from Manhize (Discon Iron and Steel Company) but we are ready,” he said adding 70% of the market is foreign.
He said the reopening of Ziscosteel has positives to other industries that are also critical in the industrialisation of the country.
At its peak, Ziscosteel employed over five thousand workers in suburbs that include Redcliff, Rutendo and Torwood.
At least US$30mn has been so far been put in place by Kuvimba Mining House to resuscitate the mine while more is being mobilised.
