Nyanza’s R14 billion titanium project starts Q1 2024

NYANZA Light Metals (Nyanza)’s R14 billion titanium oxide plant is due to start early next year, as the company has signed an engineering, procurement and construction (EPC) contract with East China Engineering Science and Technology (ECEST).

This comes as Africa has been struggling with beneficiation issues and the factory is set to churn out 80 000 tonnes of pigment, which is used in the manufacturing of paints, plastics, whitening of foods including milk, cosmetics and other personal care items like toothpaste.

“Once you have the EPC… you are now able to (conclude) all other contracts. So up to the end of this year, we will (probably) be working with banks to achieve financial close, which basically means (securing) unencumbered funds for us to start construction in first quarter of next year,” Nyanza and Arkein Industrial Holdings (Arkein) chief executive, Donovan Chimhandamba, who has sunk US$30 million-plus over a 12-year period into feasibility studies, said.

“…with the size of the plant that we are doing… together with other by-products, you are looking at probably gross revenues in the region of US$300 million per year..,” he said.

With the continent holding over 45 percent of the world’s ilmenite supply, the Richards Bay-based plant is billed to employ — 2 000 people during construction and — and 850 permanent positions thereafter, and value add Africa’s titanium oxide produce which is available at US$300 per tonne but can rise 10 times.
Backed by shareholders and finders such as DBF Capital Partners, Chimhandamba’s own Arkein group, African Export-Import Bank and African Finance Corporation, Nyanza is also strategically positioned to raise and double up its revenues by US$750 million in the not-too-distant future.
While ECEST has built 31-plus titanium oxide processing plants over 60 years and which are also decarbonised or environmental, social and governance-complaint facilities, Chimhandamba rose to fame or prominence when he tried to initiate a US$400 million and Diaspora Infrastructure Development Group-led revival of the National Railways of Zimbabwe in 2016.
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