'Zisco demise costing Zimbabwe US$400m annually'

ZIMBABWE is losing about US$400 million annually through importing steel and related products since the collapse of Zisco in the last decade, Industry and Commerce Minister, Mangaliso Ndlovu, has said...

By Staff reporter | Published: 27 September 2019


Government retires Ziscosteel board

DEFUNCT steel manufacturer, Ziscosteel, is set to get a new board of directors after Government retired the entire old board that had been in office for more than a decade. Industry and Commerce Minis...

By Staff reporter | Published: 14 June 2019


Former Zisco worker assumes mayoral post

FORMER Zimbabwe Iron and Steel Company (Zisco) plant operator, Clayton Masiyatsva (MDC Alliance), has been elected Redcliff mayor, taking over from Zanu-PF's Freddy Kapuya who has dumped the Midlands ...

By Staff reporter | Published: 07 September 2018


Ziscosteel requires $1bn to kickstart operations

PARLIAMENT has recommended that the country's rail system should be repaired to enable transportation of coal supplies to companies such as Ziscosteel.This came out in a report on Ziscosteel which was...

By Staff reporter | Published: 15 June 2018


Ziscosteel sale awaits shareholder approval

Shareholders of the Zimbabwe Iron and Steel Company (Ziscosteel), will hold an extraordinary general meeting on June 28, to approve a transaction that will see the steelmaker's assets sold to Chinese ...

By Staff reporter | Published: 11 June 2018


Mnangagwa assents to Ziscosteel Bill

President Mnangagwa has assented to the Zimbabwe Iron and Steel (Debt Assumption) Bill enabling Government to take over its approximately $500 million debt it owes to various local and foreign credito...

By Staff reporter | Published: 30 May 2018


Zisco Bill awaits presidential assent

THE Zimbabwe Iron and Steel Company (Zisco) Debt Assumption Bill is now awaiting presidential assent after being approved by the Senate last week.Finance Minister Patrick Chinamasa indicated that gove...

By Staff reporter | Published: 24 May 2018


'New Zisco plant will be cheaper'

GOVERNMENT should facilitate that Zisco investors set up a new plant which will be cheaper than resuscitating old furnaces, Mines and Energy Parliamentary Portfolio Committee chairperson, Mr Temba Mli...

By Staff reporter | Published: 24 May 2018


Zisco deal at advanced stage

GOVERNMENT is now fine - tuning the implementation matrix of the $1 billion investment into the Zimbabwe Iron and Steel Company (Zisco), once a top steel firm on the continent.Zisco shut down operatio...

By Staff reporter | Published: 24 May 2018


Zisco debt Bill awaits Mnangagwa's greenlight

THE $500 million Zisco Debt Assumption Bill now awaits Presidential assent after it sailed through third reading in the Upper House with legal documentation on the debt schedule being finalised.A bill...

By Staff reporter | Published: 18 May 2018


Parly demands validation of $500m Zisco debt

THE Parliamentary Portfolio Committee on Finance and Economic Development has demanded validation of the $500 million Zisco debt to authenticate the arrears before Government takes over the firm's lia...

By Staff reporter | Published: 14 May 2018


Zisco's $500m debt queried

GOVERNMENT should first carry out an audit to determine how the now defunct parastatal, Zisco, accrued arrears before taking over the $500 million debt, stakeholders in Bulawayo said yesterday.Speakin...

By Staff reporter | Published: 30 March 2018


Ex-Zisco workers eager for Debt Assumption Bill

Hundreds of people the majority of them, laid off Ziscosteel employees, yesterday thronged Kwekwe Theatre and Ziscosteel club in Redcliff where they rallied behind Government's proposed take-over of t...

By Staff reporter | Published: 29 March 2018


Chinese billionaire back for Ziscosteel deal

CHINESE investor, Zhang Li, who is president of R&FA is in Zimbabwe to finalise the implementation of a $1 billion resuscitation of the Zimbabwe Iron and Steel Company (Ziscosteel), Southern Eye h...

By Staff reporter | Published: 22 March 2018


Ziscosteel needs $1bn to kick start

Ziscosteel requires at least $1billion to restart operations following its closure about 10 years ago while the new investor will need 18 to 24 months to restructure and reconstruct blast furnaces bef...

By Staff reporter | Published: 01 March 2018


Govt grants Zisco revival national project status

GOVERNMENT has granted national project status to the Zimbabwe Iron and Steel Company (Zisco), paving way for the successful implementation of the nearly $1 billion investment to revamp the defunct pa...

By Staff reporter | Published: 20 February 2018


Bulawayo industries look up to Zisco revival

Industries in Bulawayo relying on steel products have appealed to government to speedily recapitalise giant steel producer Ziscosteel, to enable them to expand their operations.The remarks came in the...

By Staff reporter | Published: 15 February 2018


Zisco investor to up production

Production at Zisco is set be twice what used to be produced when it reopens soon, Kwekwe town clerk Mr Emmanuel Musara has said. Briefing the Minister of State for Midlands Provincial Affairs Owen Nc...

By Staff reporter | Published: 14 February 2018


Zisco defers crucial meeting

Beleaguered steel maker, Zisco has postponed its crucial extraordinary general meeting, which was scheduled for tomorrow, due to a delay in the establishment of the data room containing documents for ...

By Staff reporter | Published: 07 February 2018


Govt gazettes Zisco Debt Assumption Bill

Government has gazetted the Zimbabwe Iron and Steel Company (Debt Assumption) Bill, H.B 2, 2018 to take over about to $500 million owed to both domestic and external debtors. The Bill was published by...

By Staff reporter | Published: 29 January 2018


'Zisco debt must be audited'

Government should conduct an audit to ascertain how the $380 million Zimbabwe Iron and Steel Company debt was accrued, lobby group The Zimbabwe Coalition on Debt and Development (ZIMCODD) has said.Fin...

By Staff reporter | Published: 23 January 2018


Mnangagwa vows to resuscitate Ziscosteel

Government is working on modalities to resurrect the "sleeping" iron and steel giant Ziscosteel within the first 100 days of Emmerson Mnangagwa's presidency.Addressing chiefs in the Midlands capital, ...

By Staff reporter | Published: 15 January 2018


Ziscosteel revival hope

KWEKWE and Redcliff residents are optimistic that the incoming President, Emmerson Mnangagwa, would spearhead the revival of Ziscosteel and bring the two towns back to life.Redcliff Mayor Councillor F...

By Staff reporter | Published: 25 November 2017


Zisco revival to bring $1 billion export earnings

THE revival of Ziscosteel will cut $350 million worth of steel imports and generate in excess of $1 billion in export earnings, Industry and Commerce Minister Dr Mike Bimha said yesterday.Responding t...

By Staff reporter | Published: 20 October 2017


Ex-Zisco workers get outstanding salaries

Former employees of the defunct Zimbabwe Iron and Steel Company have received part of their outstanding salaries backdated to 2009 following an agreement with Government to settle their pay arrears in...

By Staff reporter | Published: 03 October 2017

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