Lithium boom sparks economic growth

THE commissioning of Kamativi Mining Company (KMC) is a significant step in Zimbabwe’s development of its lithium mining sector, President Mnangagwa has said.
The commissioning of the Kama- tivi Mining Company’s spodumene mine and Phase 1 processing plant is expected to bolster the country’s economic growth and contribute to the development of its lithium industry.
This move signals the country’s ambition to become a major player in the global lithium market, which is growing rapidly due to the increasing demand for lithium.
The lithium processing plant was historically a tin mine, which stopped operation in 1994 due to the fall in prices of tin.
Addressing thousands of villagers and stakeholders at KMC Mine, the President said Zimbabwe was one of
the countries with the largest lithium reserves.
“Whether the Western countries want it or not, Zimbabwe is recognised as one of the countries with the largest reserves of lithium and mines in Africa. Globally, we rank alongside the leading lithium producing and supply countries such Chile, Australia, China, Argentina and Brazil,” said President Mnangagwa.
The country currently hosts seven lithium exploration and mining projects at different stages of devel- opment.
“While this relatively lithium min- ing is a new sub – sector of our mining industry, the Government stands ready to continuously improve efficiencies in this sub –sector and welcomes more investment skills and Lithium boom sparks economic growth expertise. The country is determined to sustainably exploit this strategic resource, to realise socio –economic development for our people as well as enhancing value for investors and indeed impact the world towards addressing the climate change crisis,” he said.
The Government, he said, would continue to support the drive by Kamativi Mine Company towards processing of lithium ores into concentrate.
“Value addition and beneficiation is critical for the economy and unlocking maximum benefits from our country’s abundant mineral resource endowments,” he said.
The KMC lithium concentrate plant is capable of processing 300 000 tonnes of raw spodumene ore in 50 000 tonnes of spodumene concentrate a year, translating to US$50 million in revenue annually.
The company will soon complete construction of a US$149 million Phase 2 floating plant, with a capacity to process 2 million tonnes of raw ore to yield 300 000 tonnes of lithium concentrate annually.
Mining is the backbone of the country’s economy as evidenced by the mushrooming of mining companies in Matabeleland North Province.
The President has been in Matabeleland North Province before, where he commissioned a number of mining entities such as Dinson Colliery in Hwange and Machesu Coal Mine in Binga.
The Yahua Group Chairman, Meng Yang, said the revival of Kamativi Mine reconnects the communities that have been isolated for almost 30 years with the broader world.
“To date, the KMC has opened up job opportunities, employing 300 people directly and approximately 1000 jobs indirectly through sub-contractors,” said Meng.
“Yahua Group, boasting a legacy of 72 years, feels privileged to develop Kamativi Mine together with the
Government of Zimbabwe,” he said.
Kamativi Mine is one of Yahua Group inaugural major lithium projects in Africa.
“Zimbabwe with its tranquil beauty and rich mineral resources, serves as the ideal setting for our endeav- ours,” continued Meng.
Chief Nelukoba Dingani, the traditional leader from the area, appreciated the resuscitation of KMC saying the mine would develop further Matabeleland North Province.
He applauded the efforts made by President Mnangagwa, saying he was a man who keeps his word.
“The President walks the talk, by his mantra of not leaving anyone behind, the President has Matabeleland North at heart. He has been coming with development projects for the province,” he said.
“The coming of KMC has created jobs for the youths in Hwange District. A number of youths were indulging in drug abuse due to idle minds, but with the coming of the mine, we are going to see a lot of youths busy with going to work,” said Chief Nelukoba Dingani.
Kamativi Tin Mine was closed in 1994 when the international price of tin plummeted to unsustainable levels. For three decades, Kamativi turned into a ghost town and infra- structure that included roads, build- ings, water and power facilities were vandalised.
KMC has reopened the mine to extract lithium and expects to in- vest a total of US$249 million with US$100 million injected so far into the project.
Kamativi Mining Company is a Joint Venture Company which is operated and controlled by a Sichuan PD Technology Group which is a subsidiary of a Chinese Listed entity, Yahua Group.
The local Joint Venture Partner is Kamativi Tin Mines Limited, wholly owned and controlled by a private company, Defold Mine (Private) Limited. – (Indonsakusa)