Business / Companies
Zimasco shuts down Peak Chrome Mine
16 Feb 2011 at 10:48hrs | Views
Sinosteel owned Zimbabwe ferrochrome producer Zimasco will shut down its 48 000 tonnes per year Peak Chrome Mine, an underground operation, due to dwindling ore, a company spokesperson told reporters.
Zimasco is Zimbabwe's largest ferrochrome miner and also owns smelting operations.
Peak Mine, which has been operating since 1902 is now conducting a phased shut down process and operations are expected to be completely stopped in 2013.
Clara Sadomba, Zimasco spokeswoman told The Southern Times that the ferrochrome producer would compensate for the loss of production from Peak Mine with other operations along the Great Dyke.
A few years ago Zimasco closed its Railway Block mine, which was adjacent to Peak Mine, after it ran out of mineable ore.
'Given the length of time that the company has been extracting ore from this mine, the bulk of the ore has been depleted and the current reserves indicate a remaining life of mine at the present rate of extraction of three years,' Sadomba said.
Zimasco produces around 600 000 tonnes per year of chrome ore and 210 000 tonnes per year of processed chrome. It also owns Valley Mine and Mutorashanga underground mines and three other tributary operations along the Great Dyke, a 530 kilometre mineral strike.
'Zimasco is evaluating possible changes in mining methods to ensure cost effective extraction of ore for the remainder of Peak Mine's life,' Sadomba said.
Zimasco has said that it plans to invest US$35 million in smelting facilities to raise capacity to 235 000 tonnes per year of ferrochrome from current levels of 180 000 tonnes per year.
Zimbabwe's ferrochrome output is expected to rise to700 000 tonnes in 2011 from 500 00 tonnes produced in 2010 boosted by raised production levels at Zimasco and Zim Alloys Chrome and the generally improved economic environment.
Statistics released by the Reserve Bank of Zimbabwe (RBZ) show that ferrochrome output jumped 148 percent to 500 000 tonnes in 2010 from 201 000 tonnes produced in 2009. Output of the metal is projected to swing up to 700 000 tonnes this year, the central bank said.
Zimasco is Zimbabwe's largest ferrochrome miner and also owns smelting operations.
Peak Mine, which has been operating since 1902 is now conducting a phased shut down process and operations are expected to be completely stopped in 2013.
Clara Sadomba, Zimasco spokeswoman told The Southern Times that the ferrochrome producer would compensate for the loss of production from Peak Mine with other operations along the Great Dyke.
A few years ago Zimasco closed its Railway Block mine, which was adjacent to Peak Mine, after it ran out of mineable ore.
'Given the length of time that the company has been extracting ore from this mine, the bulk of the ore has been depleted and the current reserves indicate a remaining life of mine at the present rate of extraction of three years,' Sadomba said.
Zimasco produces around 600 000 tonnes per year of chrome ore and 210 000 tonnes per year of processed chrome. It also owns Valley Mine and Mutorashanga underground mines and three other tributary operations along the Great Dyke, a 530 kilometre mineral strike.
'Zimasco is evaluating possible changes in mining methods to ensure cost effective extraction of ore for the remainder of Peak Mine's life,' Sadomba said.
Zimasco has said that it plans to invest US$35 million in smelting facilities to raise capacity to 235 000 tonnes per year of ferrochrome from current levels of 180 000 tonnes per year.
Zimbabwe's ferrochrome output is expected to rise to700 000 tonnes in 2011 from 500 00 tonnes produced in 2010 boosted by raised production levels at Zimasco and Zim Alloys Chrome and the generally improved economic environment.
Statistics released by the Reserve Bank of Zimbabwe (RBZ) show that ferrochrome output jumped 148 percent to 500 000 tonnes in 2010 from 201 000 tonnes produced in 2009. Output of the metal is projected to swing up to 700 000 tonnes this year, the central bank said.
Source - The Southern Times
