Zimbabwe Alloys has re-engaged more than 300 of its former employees after sealing a $100 million deal with an Indian investor Balasole Alloys.
The deal will see ZimAlloys which was placed under judicial management in 2013 resume operations.
The company’s managing director Mr Mike Dzinoreva told the ZBC News that following the deal operations will resume with the refurbishment and rebuilding of some furnaces expected to commence soonest.
Midlands Minister of State Cde Owen Ncube toured the giant ferro chrome producing company to get first hand appreciation of issues around the company.
Cde Ncube commended the ZimAlloys management for reviving the company that has seen more than 300 former employees re-engaged thus creating the much needed employment in the province.
ZimAlloys was placed under judicial managemnet in 2013 owing to poor business performance which was attributed to the closure of its furnaces as well as weak commodity prices.
ZimAlloys has one of the world’s best quality chrome ore claims that are found mostly along the Great Dyke.