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One of Zimbabwe’s leading chrome and ferrochrome producers, Zimasco (Pvt) Ltd, has strongly refuted recent media reports suggesting the company is under corporate rescue, assuring that it remains financially sound and fully committed to its ongoing expansion efforts, Mining Zimbabwe can report.
By Rudairo Mapuranga
The clarification comes after a report indicated that an entity named Sinosteel Zimasco (Pvt) Ltd had been placed under corporate rescue following a High Court order obtained by Avim Investments (Pvt) Ltd. However, Zimasco was quick to distance itself from the claims, emphasizing that there is no affiliation between the two companies.
“Zimasco (Pvt) Ltd is not associated in any way with Sinosteel Zimasco (Pvt) Ltd, if such a company even exists,” the statement from Zimasco read, firmly dismissing the notion of its involvement in corporate rescue proceedings.
The company further stressed that it holds no financial commitments or business ties with Avim Investments, seeking to reassure its stakeholders of its stable financial footing. Zimasco confirmed that its operations continue without disruption, maintaining robust ferrochrome production while simultaneously advancing new projects aimed at broadening its business portfolio.
Zimasco remains a critical player in Zimbabwe’s industrial sector and underscored its dedication to both its economic contributions and responsible corporate governance.
“As one of the key drivers of Zimbabwe’s economy, Zimasco (Pvt) Ltd stands by its role as a responsible corporate entity and will continue its efforts to support the nation’s economic development,” the company stated.
In reaffirming its financial health and operational strength, Zimasco also highlighted its focus on long-term growth and diversification, signalling that the company is actively working on future projects designed to enhance its market position and ensure continued success.
