https://en.sputniknews.africa/20250121/zimbabwe-stays-course-on-270-million-lithium-project-amid-price-slump-1070297430.html
Zimbabwe Stays Course on $270 Mln Lithium Project Amid Price Slump
Zimbabwe Stays Course on $270 Mln Lithium Project Amid Price Slump
Sputnik Africa
Lithium prices have slumped due to oversupply and slower-than-anticipated growth in electric vehicle (EV) sales. However, analysts predict that robust EV... 21.01.2025, Sputnik Africa
2025-01-21T17:34+0100
2025-01-21T17:34+0100
2025-01-21T17:49+0100
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Zimbabwe's state-owned Kuvimba Mining House remains committed to its $270 million lithium project, even as global lithium prices have dropped by more than 80% since their peak in November 2022, media reported, citing the company’s CEO Trevor Barnard, who expects to finalize a deal this month with two Chinese investors.The Sandawana lithium project is central to Zimbabwe's efforts to capitalize on its position as Africa’s largest lithium producer. Barnard expressed confidence in the long-term prospects of the venture.Barnard reportedly commented that the 2022 price surge was clearly a bubble, fueled by high demand forecasts and strong positive sentiment surrounding lithium.Since 2021, Zimbabwe has attracted more than $1 billion in investment for its lithium industry, primarily from Chinese battery metal companies. While the specific investors for Kuvimba’s project remain unnamed, Barnard reportedly confirmed plans to construct a 600,000-tonne-per-year lithium concentrator at the Sandawana mine.
https://en.sputniknews.africa/20250107/zimbabwe-implements-increased-minerals-tax-to-boost-revenue-from-abundant-resources-1070071510.html
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zimbabwe, southern africa, lithium, china, africa, industry, asia, mining
Zimbabwe Stays Course on $270 Mln Lithium Project Amid Price Slump
17:34 21.01.2025 (Updated: 17:49 21.01.2025) Christina Glazkova
Writer / Editor
Lithium prices have slumped due to oversupply and slower-than-anticipated growth in electric vehicle (EV) sales. However, analysts predict that robust EV demand in China and the closure of some lithium mines will stabilize prices this year, with stronger recovery expected in 2024.
Zimbabwe's state-owned Kuvimba Mining House remains committed to its
$270 million lithium project, even as global lithium prices have dropped by more than 80% since their peak in November 2022, media reported, citing the company’s CEO Trevor Barnard, who expects to finalize a deal this month with two
Chinese investors.The Sandawana lithium project is central to Zimbabwe's efforts to capitalize on its position as Africa’s largest
lithium producer. Barnard expressed confidence in the long-term prospects of the venture.
“We did a review of the Sandawana project, and we found that it is still a very good project to proceed with because of the quality of the resource and the size of the resource as well,” he was quoted as saying.
Barnard reportedly commented that the 2022 price surge was clearly a bubble, fueled by high demand forecasts and strong positive sentiment surrounding lithium.
Since 2021, Zimbabwe has attracted more than $1 billion in investment for its lithium industry, primarily from Chinese battery metal companies. While the specific investors for Kuvimba’s project remain unnamed, Barnard reportedly confirmed plans to construct a 600,000-tonne-per-year lithium concentrator at the Sandawana mine.
