April 17, 2019
Government approved a $350 million investment deal in which ZimCoke (Pvt) Ltd will revitalise the coke plant within Ziscosteel, creating more than 800 jobs for a company that is to employ 5 000 people at its peak. Of the $350 million, $133 million will be a capital injection, while $225 million will cover the debt owed by Ziscosteel to German bank, KFW. This will give ZimCoke full ownership of the coking plant. At full tilt, the project is expected to produce 500,000 tonnes of coke annually, for both local use and export markets. Government’s Transitional Stabilisation Programme (TSP) targets reopening of closed mines, expansion of those that are operating below capacity and opening of new ones.