Latest news with #ferrochrome
Zawya
08-07-2025
- Business
- Zawya
South Africa: Govt's proposed chrome export tax threatens jobs
South Africa's proposed chrome ore export tax will hurt miners' profitability and lead to job losses across the sector, the country's Minerals Council has said. Africa's most advanced economy is the world's biggest exporter of chrome, which is mostly used in the manufacture of stainless steel. South Africa also used to be the biggest global producer of ferrochrome, a combination of chrome and iron, but lost that pole position to China, mostly due to high electricity costs which have forced many smelters to shut. On June 26 2025, South Africa's cabinet announced it had agreed to lower power tariffs for chrome smelters as well as a proposal to impose a tax on chrome ore exports as part of efforts to stop the decline of the ferrochrome industry. The Minerals Council South Africa (MCSA), which represents the country's biggest miners, said in a statement that the tax "would not achieve the government's aims of sustaining the ferrochrome industry and the preservation of jobs". It would instead "hurt chrome producers and the significant contribution this industry makes to both South Africa's economy and the jobs it sustains and grows". South Africa's chrome sector directly employs 25,000 people and earned the country R85bn ($4.85 billion) in export revenue in 2024, according to the Minerals Council. It exported a record 20.5 million metric tons of chrome concentrate in 2024, mostly to China, the world's biggest importer of the commodity. Companies mining and processing chrome in South Africa include Glencore, Tharisa Plc and South32.
Zawya
08-07-2025
- Business
- Zawya
Oman Chromite boosts stake in ferrochrome venture
MUSCAT: Oman Chromite has increased its equity stake in Gulf Alloys and Metals (FZC) LLC, the operator of a low-carbon ferrochrome smelter at SOHAR Port and Freezone, further strengthening its position in the value-added segment of the chrome supply chain. The company disclosed last week that the additional investment was funded entirely from internal accruals, underscoring its financial stability and long-term commitment to downstream integration. The publicly-traded mining firm, partly owned by Minerals Development Oman (MDO), says it anticipates a positive upturn in its financial and operational performance on the back of a number of notable milestones achieved during 2024. Most significant has been the acquisition of a new mining concession which, upon development, is set to bolster access to new chromite ore deposits and reverse a decline in availability of this key commodity. 'The company's acquisition of an exploration and mining concession for Area 11-A, located in northern Oman with an area of 1,438 km², represents one of the most significant achievements in its history,' said the Chairman of the Board of Directors. 'This area is expected to help address previous challenges such as the lack of available sites and the depletion of ore reserves in the company's old mines. Exploration activities have already commenced,' he added in the Directors' Report for fiscal 2024. Chromite ore (also known as chrome ore) is processed to make metallic chromium, which is used in the production of stainless steel, in chromium plating and as an alloy in cast iron and steel. Chromium compounds are also used as colours in paint, ceramics and plastics; and as a catalyst in making chemicals and refining oil. Additionally, it is used as a refractory in furnace linings. Established by Royal Decree in 1991, Oman Chromite produces metallurgical and refractory chromite ores for a variety of industrial applications. In June 2022, the company entered into a joint arrangement with MDO — a subsidiary of Oman Investment Authority (OIA) — to share the cost of exploration, evaluation and feasibility phases covering the development of two sites at Liwa and Mahadha. MDO holds a 25.4 per cent stake in Oman Chromite. Gulf Alloys' ferrochrome smelter, in which Oman Chromite originally held a 20 per cent stake, began operations last year, with a second production line launched in January 2025. The expansion is expected to further bolster Oman Chromite's earnings. 2022 © All right reserved for Oman Establishment for Press, Publication and Advertising (OEPPA) Provided by SyndiGate Media Inc. (
Yahoo
05-07-2025
- Business
- Yahoo
South Africa's proposed chrome export tax could lead to job losses
The South African mining industry is facing a potential challenge as the government's proposed chrome ore export tax could negatively affect miners' profitability and lead to job losses, according to a report by Reuters. The Minerals Council South Africa, representing the country's major miners, has expressed concerns that the tax will not support the government's goals of preserving the ferrochrome industry and jobs. South Africa, the world's largest exporter of chrome, has seen its ferrochrome production decline, losing its leading position to China, primarily due to high electricity costs. This has resulted in many smelters shutting down operations. To address this, the South African cabinet announced on 26 June 2025 that it had agreed to lower power tariffs for chrome smelters and proposed a tax on chrome ore exports in a move to revitalise the ferrochrome industry. However, the Minerals Council believes that this move would 'have a negative impact on chrome producers and the significant contribution this industry makes to both South Africa's economy and the jobs it sustains and grows.' The chrome sector in South Africa is a significant employer, directly employing 25,000 people and generating R85bn ($4.85bn) in export revenue in 2024. The country exported a record 20.5 million tonnes (mt) of chrome concentrate in 2024, mainly to China. Companies such as Glencore, Tharisa and South32 are key players in the South African chrome mining and processing industry. South African coal and iron ore exporters, including Glencore and a unit of Anglo American, are preparing to sign investment agreements worth billions of rand with Transnet. These agreements, as stated by B4SA's head of transport and logistics Ian Bird, are to repair critical rail lines and enhance shipment capabilities. "South Africa's proposed chrome export tax could lead to job losses" was originally created and published by Mining Technology, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Reuters
03-07-2025
- Business
- Reuters
South African miners say proposed chrome export tax threatens jobs
July 3 (Reuters) - South Africa's proposed chrome ore export tax will hurt miners' profitability and lead to job losses across the sector, the country's Minerals Council has said. Africa's most advanced economy is the world's biggest exporter of chrome, which is mostly used in the manufacture of stainless steel. South Africa also used to be the biggest global producer of ferrochrome, a combination of chrome and iron, but lost that pole position to China, mostly due to high electricity costs which have forced many smelters to shut. On June 26, South Africa's cabinet announced it had agreed to lower power tariffs for chrome smelters as well as a proposal to impose a tax on chrome ore exports as part of efforts to stop the decline of the ferrochrome industry. The Minerals Council South Africa, which represents the country's biggest miners, said in a statement the tax "would not achieve the government's aims of sustaining the ferrochrome industry and the preservation of jobs". It would instead "have a negative impact on chrome producers and the significant contribution this industry makes to both South Africa's economy and the jobs it sustains and grows". South Africa's chrome sector directly employs 25,000 people and earned the country 85 billion rand ($4.85 billion) in export revenue in 2024, according to the Minerals Council. It exported a record 20.5 million metric tons of chrome concentrate in 2024, mostly to China, the world's biggest importer of the commodity. Companies mining and processing chrome in South Africa include Glencore (GLEN.L), opens new tab, Tharisa Plc (THST.L), opens new tab and South32 ( opens new tab. ($1 = 17.5148 rand)
Zawya
04-06-2025
- Business
- Zawya
Oman: Sohar Freezone signs deal for new ferrochrome plant
Muscat – Sohar Freezone has signed a land lease agreement with Matrix Alloys, a leader in low-carbon ferrochrome production, to build a new state-of-the-art, environmentally friendly ferrochrome plant. This initiative strengthens Oman's role as a regional hub for sustainable industrial development and supports the goals of Oman's 2050 Net Zero commitment to reduce carbon emissions and diversify the economy. The project, with an investment of $10mn, will occupy 2.2 hectares within Sohar Freezone and aims to produce 20,000 tonnes annually of micro-carbon and low-carbon ferrochrome. The facility will meet stringent purity and sustainability standards demanded by key markets including Europe, Japan, South Korea, and India. The first phase is expected to be operational by 2026. Utilising an electric-based production process that avoids coal and heavy-oil pollution, the plant will significantly reduce its environmental footprint and operate with zero waste gas or wastewater emissions. Furthermore, it seamlessly fits into Oman Vision 2040, promoting sustainable industrialisation and encouraging foreign investment to drive long-term economic growth and environmental stewardship In a press statement, Bailin Yi, Chairman of Matrix Alloys, said, 'Launching our first international ferroalloy plant in Sohar Freezone offers us a strategic location with excellent infrastructure, market access, and competitive, stable, and low-cost energy essential for the energy-intensive smelting processes. We are committed to delivering premium low-carbon ferrochrome products that support global stainless-steel producers and promote a cleaner industrial future.' Mohammed al Shizawi, Acting CEO of Sohar Freezone, said, 'This agreement underscores the trust that international investors place in Sohar Port and Freezone's integrated industrial ecosystem. Matrix Alloys is bringing advanced, sustainable manufacturing capabilities to our ferroalloy cluster, aligning perfectly with our vision to attract clean technology investments and strengthen Sohar Freezone's position as a competitive gateway for global trade.' Matrix Alloys will benefit from Sohar Freezone's proximity to raw material suppliers and customers, as well as direct port access, and a supportive regulatory environment that reduces operational costs. The plant also plans to secure ISO 14001 and ISO 14067 certifications to ensure full carbon emission traceability and compliance with international standards such as CBAM, EcoLeaf, and K-ETS. As Sohar Freezone approaches full capacity in its initial development phase, this agreement marks a significant milestone in expanding Oman's green industrial base and attracting technology-driven industries to the region. © Apex Press and Publishing Provided by SyndiGate Media Inc. (
