President Mnangagwa dates Manicaland Province

President Emmerson Dambudzo Mnangagwa will lead the groundbreaking ceremony and unveiling of plaque of the Sabi Star Lithium Mine in Buhera North, Manicaland Province.

Chengxin, the Shenzhen-listed company acquired the lithium prospects and it expects to spend US$130 million to develop the new Sabi Star mine in Buhera.

The company, spent US$76.5 million in 2020 to buy 51% of MaxMind, which held claims.

The acquisition was the first of a series of deals since then by Chinese and UK miners looking for lithium in Zimbabwe.

Meanwhile, lithium deposits have been discovered in Zimbabwe.

If well harnessed, the country is expected to benefit more.

Lithium is used to make batteries.

Lithium developers are under pressure to make battery-grade lithium, but they say Zimbabwe does not have the infrastructure or the inputs to make this possible.

The Competition and Tariff Commission recently told Huayou Cobalt, which is developing the Arcadia mine near Harare, to commit to producing battery-grade lithium in five years. But the company said this will not be profitable.

Zwnews