African Chrome Fields (ACF) has outlined ambitious plans to expand its global chrome concentrate market share to approximately 25% by the end of 2026.

The Zimbabwe-based producer has invested in expanding the company’s chrome resources and constructing a 600tpy high-grade ultra-low carbon ferrochrome (65% Cr) plant that utilises a cost-efficient aluminothermic smelting process. ACF operates seven processing plants capable of producing 360ktpy foundry-grade chrome concentrate. The company plans to increase its production capacity to achieve 800ktpy of chrome concentrate by 2030. 

Zimbabwe holds the second-largest chrome ore reserves globally after South Africa. However, its ore is of notably higher quality, with a chrome-to-iron ratio of about 2.5:1, making it particularly suitable for ferrochrome production. In July 2022, the Zimbabwean government reinstated the export ban on raw chrome products to encourage investments into local beneficiation facilities. Investments by companies, including Chinese firms such as Tsingshan, have resulted in the construction of integrated chrome beneficiation and stainless steel plants, while reinvestment in local operations such as ZIMASCO and ZimAlloys has increased, bringing furnaces back online. 

Zimbabwe is the fourth-largest producer of chromite and the sixth-largest producer of HC FeCr. Zimbabwe exports over 80% of its HC FeCr, with over 75% destined for China, and the rest imported by countries such as the USA, the Netherlands and Spain. Zimbabwean chrome alloys are typically sold at a discount due to trade restrictions. Although Zimbabwean HC FeCr represents a small share of the European market, its competitive pricing remains appealing to stainless steel plants. 

A significant factor affecting Zimbabwe’s position in the European market is the upcoming implementation of the EU’s Carbon Border Adjustment Mechanism (CBAM) in 2026. Under this mechanism, HC FeCr imports from countries such as Zimbabwe could face additional taxes or be required to participate in emissions trading schemes to remain competitive in Europe.