- Zimbabwe has drawn a hard line: no more exporting raw chrome. With a US$15.8 billion ferrochrome market in sight, the government is forcing investors to beneficiate locally or walk away.
Zimbabwe has declared raw chrome concentrate exports obsolete as Mines Minister Dr. Polite Kambamura launched an aggressive hunt for a share of the US$15.8 billion global ferrochrome market, warning investors that the era of shipping unprocessed ore is over permanently, Mining Zimbabwe can report.
By Rudairo Mapuranga
Speaking at the Africa Chromium Week 2026 conference in Victoria Falls, Dr. Kambamura delivered what amounted to an ultimatum to the global chromium industry: beneficiate locally, or do not mine at all.
“Our position is clear,” the Minister told delegates. “Zimbabwe will no longer export jobs, value, and industrial potential in the form of raw minerals. Instead, we are building a robust ferrochrome industry anchored on local smelting, technology upgrades, and strategic partnerships.”
The policy shift is not new; Zimbabwe first banned raw chrome exports in 2011 and again in 2022, but the enforcement mechanism has fundamentally changed. In February 2026, Kambamura announced a sweeping suspension of all raw mineral and lithium concentrate exports, effective immediately, covering minerals already in transit. The ban extends to chrome ore, gold, platinum group metals, and lithium, compressing a policy timeline that had previously set a January 2027 deadline for lithium concentrate restrictions.
The Minister’s numbers painted a stark picture of both opportunity and underperformance.
Zimbabwe holds approximately 12 to 13 per cent of global chrome reserves, the second-largest endowment in the world, concentrated along the mineral-rich Great Dyke. The country currently operates 17 ferrochrome smelting plants, and in 2025, ferrochrome exports reached 433,293 metric tonnes, reflecting 19 per cent year-on-year growth.
Yet, despite this solid resource base and growing output, smelter capacity utilisation remains at approximately 68 per cent.
“To appreciate the scale of opportunity, consider global ferrochrome demand, which stands at approximately 14.92 million tonnes per annum,” Kambamura said. “China alone accounts for 6.8 to 7.2 million tonnes. Zimbabwe contributes only 0.25 to 0.45 million tonnes, a figure that underscores both the room for growth and the urgency of our beneficiation drive.”
The global ferrochrome market, valued at approximately US$15.8 billion in 2026, is projected to reach US$22.02 billion by 2035, driven by stainless steel demand from China’s industrial expansion and India’s emergence as the next major consumption frontier.
‘Use It or Lose It’: The New Enforcement Regime
The government has backed its rhetoric with regulatory teeth. New mining rights exceeding 100 hectares are now tied to smelting capacity requirements, a “use it or lose it” strategy ensuring that large claims translate into industrial development rather than speculative holding.
The policy addresses long-standing challenges. Previous export bans, first in 2007, then in 2011 and 2020, were undermined by loopholes, special permits, and corruption, allowing some companies to continue exporting raw chrome. “Granting special licences has allowed some companies to export far more than their quotas, derailing the focus on investment in local processing,” said Gibson Romari, a consulting mining engineer.
That era, according to Kambamura, is finished.
The Palm River Template
The Minister singled out the Palm River Energy Metallurgical Special Economic Zone in Beitbridge as the model for Zimbabwe’s chrome-powered future.
The US$3.6 billion project, developed in collaboration with a Chinese mining company, covers 5,100 hectares and includes a coking plant, a 2-million-tonnes-per-year ferrochrome smelting plant, and a 1,200 MW coal-fired power complex. Surplus electricity will be supplied to the national grid.
According to the Zimbabwe Investment and Development Agency (ZIDA), verified investment in the project had reached US$57.7 million as of March 2025, with the initial phase targeting US$209 million. The project has already generated direct employment for 313 Zimbabweans.
The Manhize Steel Plant in Mvuma, developed by Dinson Iron and Steel (part of China’s Tsingshan Holding Group), represents the other anchor of the strategy, expected to become Africa’s largest integrated steelworks.
Local Innovation Bypasses Grid Constraints
Kambamura also highlighted technological breakthroughs emerging from domestic players. African Chrome Fields has pioneered a proprietary aluminothermic smelting process that produces ultra-low carbon ferrochrome without relying on the national grid.
“Our exclusive aluminothermic processes yield high-grade ferrochrome with ultra-low carbon content in a significantly shorter duration compared to conventional methods,” said Zunaid Moti, Chairman of African Chrome Fields. “This positions us to soon deliver a superior product compared to almost any other source globally.”
The technology, developed at a cost of over R1.2 billion (approximately US$65 million), produces ferrochrome with 62–65 per cent chromium content and just 0.2 per cent carbon—suitable for high-grade applications in aerospace and speciality steel.
“Companies such as African Chrome Fields are pioneering ultra-low carbon ferrochrome technologies, developed locally, proving that Zimbabwe is not just a resource base, but is under transformation into an innovation hub,” Kambamura said.
Zimbabwe is no longer asking whether it can beneficiate its chrome. The export ban is in force. Seventeen smelters are operating. Palm River and Manhize are under construction. Local innovation has proven that grid constraints can be bypassed.
The question now is whether global capital will move at the speed of Zimbabwe’s ambition, or risk being locked out of one of the world’s largest chrome reserves.
“Value addition is no longer an option; it is the foundation of our national strategy,” Dr. Kambamura said.
