ZIMBABWE BANS EXPORT OF CHROMITE TO BOOST DOMESTIC REFINING
ZIMBABWE CHROMITE EXPORT BAN,
18 months ago, Zimbabwe declared that it would soon ban the export of unrefined chromite in efforts to give domestic refineries a boost and ultimately, adding to Zimbabwe’s model to stimulate economic growth. Currently, Zimbabwe and South Africa hold around 90% of the world’s chromite reserves. Up until now, Zimbabwe exported most of its raw materials to China and South Africa where it is refined into a more high-grade substance called Ferrochrome. The refining of chromite into ferrochrome seems to be a profitable business and Zimbabwe’s plan to capitalize on this process by generating domestic revenues for themselves. The material ferrochrome is one of the main ingredients in stainless steel and high grade steel products.
