In a significant economic boost for Zimbabwe, global steel behemoth, Accelormittal, is now importing 45,000 tones of coke worth $10 million monthly. This development is a direct result of the “Zimbabwe is open for business” policy implemented by the Second Republic. Last year, President Mnangagwa held talks with Accelormittal’s CEO and director, Mr. Kobus Verster, discussing plans to build coke oven batteries as part of a beneficiation and value-addition process. This initiative is expected to create thousands of jobs for Zimbabweans. Each coke oven battery, valued at $15 million, is planned for the Hwange and Binga areas. A battery of this value can produce about 10,000 tones of coke a month. Furthermore, ArcelorMittal South Africa is also venturing into a public-private partnership with National Railways of Zimbabwe to buy new wagons and revamp the country’s railway network. This partnership aims to facilitate the smooth movement of goods in the region, especially coke and tar. Under the Second Republic, Zimbabwe is attracting international firms, with ArcelorMittal being the biggest buyer of coke produced in Hwange. The country is also exporting 2,000 tones of crude tar across the Limpopo per month, earning more foreign currency. The firm, which manufactures steel for Toyota vehicles, had temporarily halted imports from its Hwange suppliers but is now buying again. Fruitful deliberations were conducted between ArcelorMittal South Africa and local suppliers, resuming coke purchases from the Hwange region. The firm’s representative in Zimbabwe, Dr. Dudley Jura, stated that the firm remains committed to doing business in Zimbabwe. In conclusion, this development is a testament to the success of the “Zimbabwe is open for business” policy. It brings hope for a brighter economic future for Zimbabwe, demonstrating the potential for growth and prosperity when international partnerships are fostered.
Source: The Herald
