JRG gets lithium project contract

JRG gets lithium project contract
Published: 30 May 2018
ONE of the top construction and civil engineering firms, JR Goddard (JRG), has been appointed as the earthmoving contractor for Prospect Resources' Arcadia Lithium Project.

The lithium project, situated 38 kilometres east of Harare near Arcturus Gold Mine, is the largest lithium deposit in Africa comprising 808 000 tonnes of lithium oxide.

Prospect Resources is a Southern Africa-focused lithium and gold mining and exploration company based in Perth, Australia, with operations in Zimbabwe. The firm also operates Sally Gold Mine and Prestwood Gold Mine, located in Gwanda. In a statement, Prospect said JRG was expected to begin mobilisation of plant and equipment immediately and to break ground soon.

"Prospect Resources Ltd is pleased to announce the appointment of JR Goddard (Pvt) Ltd as the earthmoving contractor for the Arcadia Lithium project. JRG has been at the forefront of the construction industry in Zimbabwe since 1982," it said.

Company owner, Mr Jim Ross Goddard, could not comment on the matter yesterday, saying he will be free to discuss the issue today.

JRG specialises in large-scale earthworks, civil construction and infrastructure development and presently employs in excess of 1 200 workers and has successfully completed over 200 contracts since the company's inception.

"Prospect is excited about the company moving the Arcadia Lithium project into the development and build phase.

"Since the updated off-take agreement was announced on the 4th of April 2018, the company is now in complete control of the design, build, commissioning and financing of the mine and concentrate plant," said Prospect.

Government has granted the Arcadia Lithium Project a National Project Status in support of the development of the mine envisaged to create hundreds of jobs directly and thousands others across the downstream industry.

Within a short space of time, Prospect said they have made significant progress on all fronts including the appointment of global engineering firm DRA to provide engineering services and design of the Arcadia Lithium project.

The miner expects to secure more than $55 million in funding for the first phase of its Arcadia Lithium project that will see it produce lithium concentrates for export by June 30, 2019.

"Funding for the Arcadia Lithium project is currently a mix of equity and off-take prepayment.

"Prospect is currently considering additional indicative finance offers which are a mix of foreign debt and equity, off-take prepayment as well as local borrowings," it said.

The board firmly believes that the design, build and funding of the first stage of the Arcadia Lithium project (mine and concentrate plant) are on track.

Last month, Prospect announced that it had set aside at least $25 million to fund the construction of a mine and plant at Arcadia.
- chronicle
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