In late November, China's Tsingshan Holding Group signed a memorandum of understanding (MoU) with the Zimbabwean government for building an integrated steel, coal, and chrome production plant. Furthermore, the group is also considering stainless steel production.

Under the MoU, the ferrochrome supply of the plant ongoing is set for the group's stainless steel production in China or Indonesia.

The planned steel plant will be operated by Tsingshan group's subsidiary Dinson Iron and Steel Company. After the steel plant is built, it will be the biggest steel plant in Africa with carbon steel and maybe stainless steel in the later future.

The capacity in the first stage is 600,000 tons annually and it will be upgraded to 5 million tons per year afterward. The ferrochrome capacity would be raised from 150,000 tons annually to 500,000 tons per year afterward.