Posco moves to secure supply of ferrochrome from Zimbabwe
Posco said yesterday that it has signed a preliminary deal to buy a stake in a Zimbabwean ferrochrome smelting firm as part of efforts to secure a stable supply of the raw material.The deal with Gurta of Switzerland and Anchor Holdings of Zimbabwe will allow the Korean steelmaker to secure a stake in Maranatha Ferrochrome, Zimbabwe’s third-largest ferrochrome smelting firm.
Posco imports around 430,000 tons of ferrochrome a year.
Maranatha has an annual capacity of 28,000 tons of the material, an alloy of chromium and iron used mainly for manufacturing stainless steel.
with the Korea JoongAng Daily
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