#Zimbabwe Mining Development Corporation#Essar Africa#NewZi

ZMDC and Essar Africa Explore Iron Ore Deposits

The Zimbabwe Mining Development Corporation has teamed up with Essar Africa, the Indian steel conglomerate which has significant interests in minerals, ...

Admin
|Jul 3|magazine3 min read

The Zimbabwe Mining Development Corporation has teamed up with Essar Africa, the Indian steel conglomerate which has significant interests in minerals, to explore iron ore deposits.

Through its subsidiary, NewZim Minerals, Essar owns 80 percent of iron ore claims at Buchwa Mine, Ripple Creek and Manhize Ranch, while the Zimbabwe government owns 20 percent.

In an AllAfrica report, Industry and Commerce Minister Mike Bimha said extensive exploration was on course after ironing out a number of issues regarding the claims.

He was reported as saying: “There have been some exploration work done by Essar in the area before, but we have resolved that this should be done in partnership with ZMDC.”

The Minister explained that once it was sure of resources for mining then the ore from Manhize would be blended with ore from other areas to reach Essar’s required grades.

In the long term, Essar also plans to set up a benefication plant which would assist in developing local communities by creating new jobs and empowering local businesses.

Essar Minerals owns a growing portfolio of iron ore and coal mines in India, Indonesia, Mozambique and the USA.

It also has an iron ore prospecting license in Brazil and various states in India. The company has access to more than 1.6billion tonnes of iron ore reserves and 450 million tonnes of coal reserves.