Prospect Lithium Zimbabwe Nears 90% Completion of Carbonate Plant as Sector Draws $1 Billion
Updated
Updated · Al Jazeera English · Jul 26
Prospect Lithium Zimbabwe Nears 90% Completion of Carbonate Plant as Sector Draws $1 Billion
1 articles · Updated · Al Jazeera English · Jul 26
Summary
Prospect Lithium Zimbabwe said its lithium carbonate plant is about 90% complete, marking a key step in Zimbabwe’s push to process more of its lithium at home.
Zimbabwe’s 2022 ban on exports of unbeneficiated lithium ore has helped pull more than $1 billion into the lithium value chain, with officials also touting construction of Africa’s first lithium sulphate plant.
Huayou Cobalt’s investment in PLZ has generated more than $1.1 billion in foreign exchange, while the government says it ultimately wants local production to extend to batteries and solar panels.
Smaller miners say expensive processing plants, limited finance and weak access to capacity could shut them out, leaving them dependent on local smelters that underpay for raw minerals.
Economists warn the beneficiation drive will need reliable power, transport, foreign exchange and clear implementation support or export restrictions could push more mining activity underground.
Could Zimbabwe's bold ban on raw lithium exports secretly bankrupt local miners while handing total control to massive foreign corporations?
Will crippling power shortages and reliance on diesel generators derail Zimbabwe's multi-billion-dollar dream of manufacturing green energy batteries at home?