PRESIDENT Emmerson Mnangagwa last week officially commissioned the Kamativi Mine Spodumene Processing Plant.
Spodumene is an ore that contains lithium.
After shutting down in 1994 due to a drop in tin prices, the mine has reopened as a lithium mine.
Over 1000 people, with most drawn from the local community, are employed at the mine.
Addressing the community from Kamativi and surrounding areas, President Mnangagwa said Zimbabwe is open for business, emphasising that investment should result in a win-win situation for the investor as well as the country.
US$100 million was used under phase one of the lithium project.
The Head of State said the country is marching forward with economic development, noting that the Second Republic’s engagement and re-engagement policy is paying off as seen through various investments.
The lithium concentrate plant is capable of processing 300,000 tonnes of raw spodumene ore into 50,000 tonnes of spodumene concentrate per annum, translating into an estimated US$50 million in revenue per year.
As revealed by the President, the Kamativi Mining Company has almost completed the US$149 million phase two floatation plant with a capacity to process 2 million tonnes of raw ore per annum.
Based on current market prices, the gradual expansion into phase two will result in a total expected revenue of US$300 million per annum. – (ZBC)
