Positive prospects for Zim's lithium industry

Published: 19 May 2018

Government says it is excited about the positive prospects of the lithium industry and has committed itself to create a conducive environment for investors in the sector by unlocking funding for the critical sub-sector and implementation of the ease of doing business reforms.

The symposium on lithium industry in Zimbabwe held during day one of the ongoing 2018 Chamber of Mines of Zimbabwe annual general meeting and conference saw investors and policy makers stressing the need to position the country as top lithium producer.

Members of the recently formed Zimbabwe Lithium Minerals Producers Association identified access to capital as a major challenge facing the sector and appealed to government to create an enabling environment and to reconsider shelving the 5 percent beneficiation tax.

Mines and Mining Development Minister, Mr Winston Chitando assured the investors of government commitment to create an enabling environment adding that several initiatives are being pursued to unlock funding for the sector.

"It is an ongoing process and we are committed to unlock funding for the sector. As government we have also committed ourselves to pursue the ease of doing business reforms," he said.

According to the cabinet minister, a team from the London Stock Exchange is expected in the country while a local team will be going to meet in Toronto, Canada to highlight the investment opportunities.

Bikita Minerals, one of the local players in the lithium industry is expecting to establish a lithium carbonate plant at a cost of around $220 million.

Three other miners Prospect Resources, Zimbabwe Lithium and Zulu Lithium expect to start production of lithium concentrates from the end of 2018 and next year.
- zbc

Tags: Lithium,