Minite Writting

(RISCOM), a statutory body in 1942. It also acquired the Kwekwe Lime Works and adjacentLimestone deposits. In 1957 Rhodesian Iron and Steel Company (RISCO) was formed and amassive expansion programme was undertaken including the commissioning of a modern blast furnace and the installation of the first battery of the Coke Oven. Over the years thecompany has continued to grow to a capacity of one million metric tonnes of molten steelmaking it one of the largest integrated steel works in Southern Africa.After independence the company was renamed ZISCO. It has continued to grow with thegrowth of local regional and international markets. ZISCO became the pillar of Zimbabwe. Itwas one of the largest foreign currency earners in Zimbabwe operating above 50% in production. However, the steel company started to face some difficulties due the introductionof the Economic Structural adjustment Programme.In 2001 the plants became disintegrated and mills stopped functioning. Apart from what wastaking place in – house, national railway services were of poor quality as well as unreliablesupply of coal from Hwange. These companies were also going through economic hardshipsmainly emanating from shortage of foreign currency.:4

On January 19 2008 blast furnace number 4 stopped functioning due to load shading of December 2007, which affected the batteries therefore leading to the collapse of Coke Ovens.The political situation in the country also affected this company. ZISCO is one of Zimbabwean companies mentioned on the July 25 2008 Executive Order of the US sanctionsto be under the US sanctions. World economic crisis of November 27 2008 affected ZISCOas its major customer, Reclamation stopped dispatching from ZISCO.All these challenges affected ZISCO to a greater extent as most of its employees