[Fellow]Government has given Chinese firm, Dinson Iron and Steel Company (Disco), which is developing the US$1,5 billion steel plant in Manhize near Mvuma, an iron ore mining lease with an open-ended tenure. The mining lease entitles Disco, a unit of China’s biggest ...
[Ferro-Alloys.com]
Govt hands over mining lease to Chinese steel giant Disco
Government has given Chinese firm, Dinson Iron and Steel Company (Disco), which is developing the US$1,5 billion steel plant in Manhize near Mvuma, an iron ore mining lease with an open-ended tenure. The mining lease entitles Disco, a unit of China’s biggest stainless steel producer, Tsingshan Holdings Group Limited, to 12 270 hectares on which the steel plant is being established.
Speaking during the handover ceremony in Harare on June 23, Mines and Mining Development Minister Winston Chitando commended the investor for going ahead with the setting up of the project, which is Africa’s largest integrated steel plant, even though the title deed had not been issued.
“What we are handing over today is a mining lease, which effectively is the title deed for Dinson Iron and Steel ownership of their 12 000ha in that area . . . we look forward to Dinson or the Tsingshan Group continuing to move at the fast pace which they are moving at,” he said.
Minister Chitando said it’s really a typical example of a consolidated value addition programme which is in line with NDS 1 and, which is also in line with supporting the vision of His Excellency of a 2030 upper middle-income economy and also our US$12 billion target.
NDS 1 is the Government’s five-year economic blue-print running from 2021 to 2025 driving the country towards an upper middle-income economy society by 2030.
Disco has indicated that their first blast furnace would be on stream by November this year.
When operating at full throttle, the steel plant will produce 1,2 million tonnes of carbon steel annually with the first phase churning out 600 000 tonnes per year for local and export markets.
The steel plant would be powered by two 175MVA substations and a 330KV transmission line stretching 100 kilometres from Sherwood in Kwekwe.
Disco managing director Mr Benson Xu expressed gratitude to the Government saying the handover of the mining lease boosts their confidence in the steel project.
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