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China-Africa Trade Information Service
http://info.afrindex.com
China-Africa Trade Information Service
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ZIMBABWE is poised to become a key player in the global transition to green energy, not only through lithium mining, but its beneficiation that can empower local communities and develop the nation as a whole, President Mnangagwa has said.
In yet another milestone in the country's quest to reach its target of a US$12 billion mining industry economy by 2023, President Mnangagwa yesterday officiated at the ground-breaking ceremony of the US$300 million Bikita Minerals Spodumene, a project that will result in increased production of lithium with a projected annual income of US$500 million for the next 10 years.
The game-changing project by Sinomine Resource Group at Bikita Minerals also presents far-reaching possibilities as lithium and its compounds have several industrial applications that include use in the manufacture of heat-resistant glass and ceramics, lithium grease lubricants, flux additives for iron, steel and aluminium production, air treatment, as well as lithium batteries, among others.
"I therefore, urge players in the lithium mining sub-sector to strategically position their business models informed by the fact that lithium demand will continue rising, particularly premised on the growing demand for electric vehicles. To date, this surge in demand has resulted in lithium prices skyrocketing over the past year thereby offering scope for increased investment in the sector," President Mnangagwa said.
"It is my expectation that the development of the lithium mining sector in Zimbabwe will lead to the growth of value chain linkages in the manufacturing industry. This should translate into expanded local production of renewable energy technologies, ceramics, glass, lubricants and polymers, among other products. The investment by Sinomine Resource Group should, thus, not only end in the production of spodumene, but should graduate to the production of battery grade lithium and ultimately lithium ion battery manufacturing entities".
