Loading prices...

Register/Sign in
ScrapMonster
Sell Your Junk CarGet an instant quote for your car on ScrapMonster.com
Metal Recycling News December 13, 2021 05:24:46 PM

Zimbabwe Ministry Ponders Ban on Scrap Metal Exports

Paul Ploumis
ScrapMonster Author
The issues will be presented before the Cabinet so as to formulate necessary policies to the benefit of the industry.

Zimbabwe Ministry Ponders Ban on Scrap Metal Exports

SEATTLE (Scrap Monster): The Mines and Mining Development Ministry under the Zimbabwean government plans to suspend exports of scrap metals from the country. The move is aimed at supporting local businesses and addressing the shortage of the material by scrap-consuming domestic industries.

According to Polite Kambamura, Mines and Mining Development Deputy Minister, the country is estimated to have lost nearly $5 billion worth of scrap materials through illegal exports to neighbouring countries during the past two decades. Addressing delegates at the Zimbabwe Metal Casting Indaba, the issue will be discussed with ferrochrome and coke producers in the country to decide upon a quota system that will benefit the local manufacturing industry.

RELATED NEWS:

Guyana Scrap Metal Exports Hit Hard by Government Curbs

Russia Approved Decree to Implement Export Tax on Base Metals

The issues will be presented before the Cabinet so as to formulate necessary policies to the benefit of the industry. Such a move would revive the country’s foundry industry and enhance its contribution to various sectors of the economy. The Ministry will set up a commodity exchange counter in cooperation with the Mineral Marketing Corporation of Zimbabwe (MMCZ), which in turn will help regulate scrap metal prices.

×

Quick Search

Advanced Search