Chrome exports jump up 500 percent

by / Tuesday, 05 September 2017 / Published in Uncategorized

Chrome ore exports have gone up by over 500 percent to 334,000t in the first seven months of this year, from 55,000t over the same period in 2016. This increase has been powered by Chinese demand. In value terms, these exports accounted for $53 million as at 31 July 2017, up from $4.2 million during the same period last year.For the period under consideration, high carbon ferrochrome exports stood at 171,000t valued at $182 million an improvement of over 260 percent and 440 percent in volume and value terms respectively, from the 2016 exports of 64,000t valued at $41 million.
The Country is set to double the chrome ore exports of this year from 285,000t exported in 2016 to 550,000t and judging by the year-to-date performance, the target is achievable.
Foreign investors are welcome to set up Joint Ventures with small scale miners to produce more for local smelting as well as exports.