Sinosteel Zimbabwe Chrome Inc., the largest joint venture between China and Zimbabwe, has stated that its operations have been running smoothly since it resumed production in April 2009. Currently, all five blast furnaces at its smelting plant are running at full capacity, with a daily output of 500 mt of chrome for each.
Chinese major steel producer Sinosteel Corporation set up the joint venture Sinosteel Zimbabwe Chrome Inc. in Zimbabwe in 2007, with the company posting a good performance during its first year of operations. However, the Zimbabwean steel industry was negatively affected by the global economic crisis in late 2008, as well as by the political crisis in Zimbabwe caused by the presidential elections in the same year. Subsequent slumps in chrome prices, in addition to shortages of electricity and raw materials, finally forced the company to shut down its operations at the end of 2008.
In April 2009, the company resumed operations due to the amelioration of the global economic situation and the successful establishment of a coalition government in Zimbabwe.
Sinosteel Zimbabwe Chrome has an annual production capacity of 180,000 mt of high carbon ferrochromes, mainly for sale to markets in US, EU, Japan and China.