Australia Stock Exchange listed resources firm Prospect Resources says construction works of its pilot plant at the Arcadia lithium project near Harare is now 92% complete.
President Emmerson Mnangagwa is expected to officially commission the first production run at the pilot plant in June this year, according to Prospect Resources.
The company’s managing director, Sam Hosack confirmed the development on Monday saying the Arcadia Project team has continued to meet the development timeline.
“I’m pleased to announce that we have completed approximately 92% of the work required to commence production at our Pilot Plant.
“With lithium market sentiment and prices having increased through 2021, a strong cash balance and the company being shovel-ready to develop the Arcadia Project, Prospect is well positioned to make the transition to development and production,” Hosack said.
He said the company has since appointed the operations team for the pilot plant, with key personnel holding significant lithium operational experience.
The company’s off take partner Sibelco has requested additional tonnes over and above the original planned 200 tonnes so that they can seek qualification with a greater number of customers across Europe and Asia.
It is expected that early delivery of product will ensure homologation can be achieved in the customers’ production process and will establish clear additional demand for the product within the industry which will assist Prospect in leveraging the value of the Arcadia project as the world leader in supply of this and it’s high quality spodumene products.
Construction of the new core shed and crushing circuit with ore stockpile Prospect has had expanded engagement with a range of strategic groups from across Japan, China and Europe in recent months who have an interest in spodumene off-take and assisting with development of the project.
The company is also set to produce laboratory spodumene samples for a number of these parties over coming weeks to facilitate further due diligence on the Arcadia Project. BusinessTimes