by Derick Tsimba

MMCZ has appointed Martha Chiwambutsa as its new Chrome Portfolio manager, a move that is expected to boost the marketing of chrome amidst concerns by players in the sector that the pricing systems was flawed.

Chiwambutsa also formerly in charge with the diamond portfolio, replaced Georgina Mafunda who was in charge of the chrome portfolio since 2015.

The marketing of chrome is done by a special purpose vehicle, Applebridge Investment Pvt Ltd which is a subsidiary of the MMCZ.

Chiwambutsa will address price distortions at Applebridge and she will also facilitate daily chrome prices for chrome ore producers in the same way Fidelity Printers and Refiners do in the gold sector.

Apple Bridge manager, Masimba Chandawengerwa said the management shuffle was meant to rejuvenate Applebridge after the number of complaints for failing to market chrome from chrome producers increased.

Applebridge has been criticised for its pricing structure which was pegged above the expected ceiling in the region. Resultantly international buyers were shunning chrome purchases from Zimbabwe opting for supplies from South Africa and Turkey.

Applebridge was alleged to have been running a restrictive pricing regime in the chrome sector to close out new foreign based buyers. This then left a few local buyers and chrome smelters with the exclusive opportunity to purchase chrome at very low prices.

The appointment of the new management is expected to be a game changer. Government through the Ministry of Mines and Mining Development is also prioritizing diamonds, chrome, Platinum Group of Mines, nickel and coal bed methane for value addition and beneficiation.

Last year, the chrome industry exported 215 000 tonnes of chrome ore in the first five months and earned close to US$29 million. In 2018 Zimbabwe produced 980 000 tonnes with a value of about US$153.1 million.

The Harare Post has also learnt that beneficiation and value addition of minerals before export creates value, employment and accelerates industrial growth from exploiting mineral resources.

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