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Minister of Mines and Mining Development Hon Winston Chitando has revealed that Zimbabwe is set to benefit immensely in billions of United States dollars through the recent US$1 billion integrated Dinson Iron and Steel Industrial Park which is being set up in Manhize, Chirumhanzu.President Mnangagwa has meantime directed the Minister of Mines and Mining Development and other relevant stakeholders to set up a platform to continuously share and deepen insights into international best practice in iron and steel production.
President Mnangagwa also charged Ministries of Industry and Commerce and Higher and Tertiary Education, Innovation, Science and Technology Development to strengthen collaborative skills development to support the sector to ensure realisation of broader national benefits.
Mines and Mining Development Minister, Winston Chitando, speaking in his keynote Address after the ground breaking event and tour of the progress being experienced so far at the New Iron and Steel Company said, “Zimbabwe is expected to reap billions of dollars as benefits from this investment.
Minister Chitando added, “I commend Dinson Group for taking the challenge to set up such a giant business unit in Zimbabwe.”
President Mnangagwa said the company’s investment was a confidence boost for Zimbabwe as a favourable business destination. Dinson Group’s global footprint has seen the company already invest in coal to coke processing in the Hwange area of Matabeleland North province, which will feed into the steel project while also closely linking up with limestone mining operations in Masvingo and ferrochrome value chain in the Midlands and Mashonaland provinces.
“The intricate nexus between the growth of the mining sector, local beneficiation and value chain across all levels in the mining sector cannot be overemphasised,” said President Mnangagwa.
“Hence the local beneficiation of and value addition of our abundant natural resources, particularly iron and steel, is set to accelerate and drive the economy high up the value chain.”
Vice President Chiwenga also said the new iron and steel plant was a “Milestone for Zimbabwe and a demonstration of the positive impact of the astute leadership of President Mnangagwa.
VP Chiwenga added that “The integrated model of the investment was critical in ensuring effective realisation of the goals set under the National Development Strategy (NDS1_2021-2025).”
Speaking at the same event, Midlands Provincial Affairs and Devolution Minister, Larry Mavima, expressed excitement over the US$1 billion steel plant saying, “The project was a huge boost to the province’s economy.”
Not to be outdone, Chairman of the Dinson Group, Mr Chen Shang Song, said their company was determined to “Partner Zimbabwe in building a strong mining value chain. To date, he said his group has pumped in about US$500 million investment into the country and was looking forward to increasing total value to about US$3 billion.
The Dinson Chairman said, they were targeting “To commission phase one of the project by October next year, which will be a big boost for the Government’s US$12 billion mining milestone.
Chairman Chen also said they were planning to “Establish a 400kv power transmission line that connects Mvuma and Kwekwe as well as build a railway line linking the Manhize plant in Zimbabwe with Mozambique and the DRC.”
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