Signed Addendum to the MoU strengthens Sino-Zim relations

By Tendai Chisiri

Ministry of Mines and Mining Development minister Winstone Chitando signed the Addendum to the Memorandum of Understanding (MoU) between the Government of Zimbabwe (GoZ) and Tsingshan Holding Group with Dinson Holding chairman Chen Shangsong at the State House on Tuesday.

His Excellency President Emmerson Mnangagwa was the guest of honour and felt honoured to witness the signing of the Addendum to the MoU between the GoZ represented by the Ministry of Mines and Mining Development and Tsingshan Holding.

“The Addendum provides for the development and expansion of mining as well as other related projects. Through the Addendum to the founding MoU, Tsingshan Holding Group is set to expand its current operations.This will see the company embark on the production of cement and lithium concentrates as well as scaling up coke and ferrochrome production among other mining and mineral processing projects”, President Mnangagwa said.

Zimbabwe signed a MoU with Tsingshan Holding Group on 11 June 2018, for the establishment of a carbon steel plant in Manhidze. The plant is one of Tsingshan Holdings flagship projects in the country being spearheaded by its subsidiary Dinson Iron and Steel Company.

‘To date the company has footprints in a number of projects which includes the production of high carbon ferrochrome and chrome among other projects in Mashonaland West Province and Matebeleland North Province”, Mnangagwa said.

He therefore commended Tsingshan Holding Group for the continued confidence in his administration’s economic policies and their subsequent decision to increase investments in Zimbabwe.

“Given the capital intensive nature of mining as well as the need to consolidate the gains recorded in the sector, the consideration of joint efforts towards building long term and strategic partnerships remains critical”, he said.

He also memtioned that in light of this, Zimbabwe is commited to support and facilitate efforts by both local and global investors to build the modern and industrial Zimbabwe they want brick by brick and stone by stone”, he said.

” Zimbabwe remains “Open for business” and the Second Republic stands ready to welcome more investors across all sectors of the economy”, Mnangagwa explained.

Tsingshan board chairman Xiang Guangda said they take Zimbabwe as their home. “According to President Xi Jinping ‘s one belt initiative , Tsingshan has followed that and we are currently present in Indonesia, Argentina, Zimbabwe and United States”, he added.

” By now we have 130 thousand employees overseas. Last year our revenue was about US$ 35 billion , he said.

Minister of Mines and Mining Development Winstone Chitando said the signing ceremony of the Addendum to the MoU is an important event and significantly contribute towards the attainment of empowered and prosperous upper middle-income economy society by 2030.

“The continued investement by Tsingshan Holding Group are a testament of fruits of engagement and reengagement”, said Chitando.

Tsingshan Holdings promised to build a rail line, roads for the access of their goods and also to the used by the communities in Zimbabwe.