(Ecofin Agency) – Zimbabwe is the leading African producer of lithium. In a context where new producers are emerging on the continent, such as Mali this year and Ghana in the medium term, the southern African country is seeking to attract new investments to continue to increase its production.
In Zimbabwe, Kuvimba Mining is preparing a plan to turn Sandawana, a former emerald mine, into the country’s largest lithium mine. With production of spodumene concentrates expected to begin by the end of 2025, the state-owned company aims to deliver 500,000 tonnes in the first phase of production.
According to Trevor Barnard, acting managing director of Kuvimba cited by Reuters, negotiations are underway to obtain debt financing for the construction of the factory. Zimbabwe’s sovereign wealth fund has already signed an agreement earlier this month with the company of British businessman Algy Cluff which will carry out prospecting work on parts of Sandawana.
Concerning the drop in lithium prices, the manager justifies the continued development of this project by an improvement within a year or two. “Lithium demand will start growing again as many countries ban internal combustion engine production as early as 2030said Mr. Barnard.
As a reminder, Zimbabwe is already the leading African producer of lithium. Despite the emergence of new producers, notably with Mali later this year, and Ghana in the medium term, Zimbabwe can consolidate its position thanks to projects like Sandawana. The country is mainly counting on Chinese investments which have exceeded a billion dollars since 2021.
