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(Bloomberg) — Metallon Corp. is considering paying mining-equipment suppliers in gold because a cash shortage in Zimbabwe is hampering its plan to expand output, Chief Executive Officer Mzi Khumalo said.

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Zimbabwe Iron and Steel Company is the largest steel works in Zimbabwe. It is located just outside Kwekwe, in Redcliff. Over the years the company has faced many operational problems and corruption scandals. History. In 1942, the colonial government founded the …

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Jul 31, 2011· ZIMBABWE – HARARE – CONTROVERSY is brewing over the Zisco-Essar deal amid allegations that Industry and Commerce Minister Welshman Ncube pushed through the deal without proper due diligence and allowed Essar to unfairly own 80 percent of 45 billion tonnes of iron ore reserves (or 33 billion tonnes) from Buchwa Iron Mining Company (BIMCO), a subsidiary of Zisco.

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Where Iron Ore is Mined. Iron ore is mined and produced in countries around the world including China, Australia, Brazil, India, Russia, Ukraine, South Africa, United States, Iran, Canada, Sweden and Kazakhstan. The Brazilian mining corporation Vale is the largest iron ore producer in the world.

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Zimbabwe has huge iron ore deposits associated with banded ironstone formations in greenstone belts. Major deposits are estimated to be over 30 billion tonnes of reserves. Deposits with high-grade ore are found in Buchwa and Ripple Creek.

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Latin America (excluding Mexico) and Caribbean countries accounted for 22.1% worth of iron ore exports, trailed by European suppliers at 9.1%, Asian exporters at 6.4%, African suppliers at 6.1% then North American exporters at 4.5%.

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HARARE – Metallon Corp. is considering paying mining-equipment suppliers in gold because a cash shortage in Zimbabwe is hampering its plan to expand output, Chief Executive Officer Mzi Khumalo said.

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Latin America (excluding Mexico) and Caribbean countries accounted for 22.1% worth of iron ore exports, trailed by European suppliers at 9.1%, Asian exporters at 6.4%, African suppliers at 6.1% then North American exporters at 4.5%.

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