- About Us
- Process Control
-
Products
-
Iron FoundriesCharge MaterialsMagnesium TreatmentMetal CleanlinessSteel FoundriesCharge MaterialsTreatment WireAluminium Foundries
-
- Case Studies
- News
- Contact Us
A leading supplier of metallurgical consumables to the iron, steel and aluminium industries.
Categories
- Company News (14)
- Industry News (55)
- Testimonials (6)
- Company Events (8)
- Technical (4)
- Education and Skills (2)
- Asmet in the Media (4)
- Community and Charity (1)
Recent Posts
- New Portable ATAS Units Available for Foundries
- Asmet to Exhibit at Foundry Workshop UK 2012
- Success for Asmet Team in Foundry Quiz
- Indian Ferro Alloys Producers Association Calls for Changes in Customs Duties
- Russian Car Sales Leap 20% in January
Archive
Zimbabwe is planning a Sovereign Wealth Fund overseen by the Ministry of Finance which will hold a 51% interest in foreign owned companies. It is expected that the fund will be launched by the end of 2011 as part of the black empowerment legislation and will also levy a 5% super tax on mineral production.
Foreign companies had attempted to retain control by offering 25% stakes to the government and commiting to spend the remaining 26% on social projects and infrastructure, but Robert Mugabe's governemnt refused to compromise. The Zimbabwean government is also looking at setting up a public - private patnership called the Zimbabwe Mining Exploration Company to manage the country's mineral exploration and resource management.
Market commentators question the wisdom of Zimbabwe's move, which has some of the world's largest chrome ore reserves, arguing that a minority stake in projects in a country with recent economic and political instability will deter new investment.
