The government has given Chinese firm, Dinson Iron and Steel Company (Disco), which is developing the USD1.5bn steel plant in Manhize near Mvuma, an iron ore mining lease with an open-ended tenure. The mining lease entitles Disco, a unit of China’s biggest stainless steel producer, Tsingshan Holdings Group Limited, to 12 270 hectares on which the steel plant is being established.
Speaking during the handover ceremony in Harare, Mines and Mining Development Minister Winston Chitando commended the investor for going ahead with the setting up of the project, which is Africa’s largest integrated steel plant, even though the title deed had not been issued.
“What we are handing over today is a mining lease, which effectively is the title deed for Dinson Iron and Steel ownership of their 12 000ha in that area we look forward to Dinson or the Tsingshan Group continuing to move at the fast pace which they are moving at,” he said.
NDS 1 is the Government’s five-year economic blueprint running from 2021 to 2025 driving the country towards an upper middle-income economy society by 2030.
Disco has indicated that their first blast furnace would be on stream by November this year.