Mishma Chakanyuka, Staff Writer 
KUVIMBA Mining House (Kuvimba) has engaged a consulting company to drive the resuscitation of Zimbabwe Iron and Steel Company (Zisco).
Speaking after a cabinet meeting this week, Information minister Monica Mutsvangwa said Strategen Company has been engaged by Kuvimba as the lead consultancy for the steel-making plant revival.
“The nation will recall that in March 2022, Cabinet approved Kuvimba Mining House as a strategic investment partner for the Zisco Steel plant in Redcliff, Kwekwe. A Memorandum of Understanding was subsequently signed between Kuvimba … and Zisco Steel on 12 August 2022,” Mutsvangwa said.
“Kuvimba …has divided the Zisco Steel resuscitation programme into two segments, namely: the Mining Project; and the Steel Project. The nation is further being informed that Strategen Company has been engaged by Kuvimba as the lead consultancy to drive the resuscitation of Zisco Steel.”
Under the mining project, Kuvimba will initially invest US$1 million into the steel-making plant. The process will commence with the sale of 5 million tonnes of the iron ore fines stockpiles at Buchwa Mine in Mberengwa District of Midlands Province.
Mutsvangwa highlighted that Kuvimba will work in partnership with the National Railways of Zimbabwe (NRZ) in the refurbishment of the existing Buchwa-Maputo rail line, while NRZ will earn revenue from the use of the line and the provision of goods train services to Zisco.
“Preliminary works include feasibility and market studies, and engineering and process designs. The technical appraisal of the steelworks plant will be conducted by SMS Group, a German-based steel equipment manufacturer, while the market studies, engineering/process designs will culminate in a bankable feasibility study and business plan,” Mutsvangwa said.
She said Kuvimba will raise US$300 million for Zisco through local sales of iron ore.
Zisco, which is considered strategic to the country’s economic revival, stopped production in 2008 owing to operational and financial challenges. Several efforts to resuscitate the firm have failed over the years.
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