Ruukki puts Zimbabwe chrome project on ice

Feb 22, 2013 | 11:11 AM | Felix Njini

Tags  Ruukki, Alistair Ruiters, chrome, Zimbabwe, felix njini

WINDHOEK, Namibia — Ruukki Group says prevailing market conditions have forced it to put plans to develop its Waylox chrome deposits in Zimbabwe on hold.

The project encompasses two chrome claims—Trixie and Prince of Wales—along Zimbabwe’s Great Dyke, a 330-mile-long mineral strike with substantial chrome and platinum deposits.

"We have plans to develop the claims into a mine. The timing of our decision is entirely market dependent, and given current market conditions we will obviously wait a bit," Alistair Ruiters, executive chairman of Ruukki South Africa, told AMM sister publication Metal Bulletin. ....





Latest Pricing Trends

Poll

Are you stocking more inventory today than 18 months ago?

Yes
No


View previous results