ZMF, Ap­ple Bridge meet over chrome prices

Chronicle (Zimbabwe) - - Business - Love­more Zi­gara Mid­lands Cor­re­spon­dent

THE Zim­babwe Min­ers’ Fed­er­a­tion (ZMF) will to­day con­vene a meet­ing with Ap­ple Bridge In­vest­ments, a spe­cial pur­pose ve­hi­cle cre­ated by the Gov­ern­ment to buy chrome from small scale min­ers. The indaba comes in the wake of com­plaints by small scale min­ers that they are not be­ing paid for chrome de­liv­er­ies. The Gov­ern­ment came up with a $100 mil­lion spe­cial pur­pose ve­hi­cle through Ap­ple Bridge In­vest­ments to buy the min­eral at in­ter­na­tional prices to em­power the lo­cal min­ers af­ter lift­ing the ban on ex­ports of raw chrome. ZMF chief ex­ec­u­tive of­fi­cer Welling­ton Takavarasha told Chron­i­cle Busi­ness that the meet­ing, which will in­clude small scale min­ers, the Min­eral Mar­ket­ing Cor­po­ra­tion of Zim­babwe (MMCZ) and rep­re­sen­ta­tives of Ap­ple Bridge In­vest­ments, will seek to “map the way for­ward” af­ter the im­passe. “We are meet­ing with Ap­ple Bridge In­vest­ments and of­fi­cials from MMCZ to map the way for­ward af­ter re­ceiv­ing com­plaints from small scale min­ers that they are not be­ing paid for their chrome de­liv­er­ies.

“On the other hand Ap­ple Bridge In­vest­ments is say­ing the small scale min­ers are not pro­duc­ing hence we are try­ing to un­tan­gle this blame game so that we can move for­ward,” said Mr Takavarasha.

The ZMF boss said one of the chal­lenges which cre­ated the im­passe was Ap­ple Bridge’s de­ci­sion to deal di­rectly with small scale min­ers in­stead of com­ing through the fed­er­a­tion which has struc­tures which could have eas­ily dealt such chal­lenges.

Said Mr Takavarasha: “The chal­lenge made by Ap­ple Bridge was to deal di­rectly with the chrome min­ers in­stead of com­ing through the fed­er­a­tion and this makes lo­gis­tics of trade much eas­ier.”

“I am con­fi­dent that we will find a so­lu­tion to the im­passe as chrome is back on the mar­ket now as prices are slowly pick­ing up and we hope the min­ers will ben­e­fit from this”.

In June last year gov­ern­ment an­nounced the lift­ing of the chrome ex­port ban which raised hopes for chrome min­ers to dis­pose of their stock­piles of 500 000 tonnes of the com­mod­ity. — @lavuzi­gara

Newspapers in English

Newspapers from Zimbabwe

© PressReader. All rights reserved.