More recent Li news from Zimbabwe.
Lithium interest jolts RioZim to action
0 March 4, 2018 2:45 PM
Source: Lithium interest jolts RioZim to action | Sunday Mail (Business)
http://www.zimbabwesituation.com/news/lithium-interest-jolts-riozim-to-action/
RioZim Limited plans to upgrade its Empress Nickel Refinery so that it can start processing lithium given huge investor appetite to exploit lithium in the country.
The move by RioZim also follows the announcement by Government of a 5 percent tax on exports of unprocessed lithium beginning January 2019.
Lithium has become the much-sought after mineral not only in Zimbabwe, but across the world as the automotive industry moves towards electric cars, which, among other things, use lithium batteries.
Zimbabwe has lithium occurrences in Bikita, Gweru, Kamativi and just outside Harare.
Investors are currently jostling to get lithium mining licences in Zimbabwe and a foreign firm has already inked a deal with Government. The deal will see the firm investing up to US$1,4 billion in a lithium project in Matabeleland North.
The Harare deposits are being mined by Prospect Resources while Bikita Minerals is mining in Bikita.
Last week, RioZim chief executive officer, Mr Bheki Nkomo told The Sunday Mail Business that it is commercially viable to beneficiate lithium locally.
Mr Nkomo also explained that it is cost-effective to upgrade the existing base metal refinery as opposed to setting up a new one.
“We have a refinery and we are considering to upgrade it so that beneficiation takes place locally,” said Mr Nkomo.
“Setting up a new refinery is very expensive. RioZim already has it so we can easily work together with the guys who are producing the concentrate, and everything will then be directed to the upgraded refinery.
“There is no need for lithium miners to spend too much capital building another refinery. As partners, let’s come together and upgrade what is there. The refinery can beneficiate all locally produced nickel and chrome, which can be sold anywhere in the world. It can now beneficiate lithium.”
RioZim’s Empress Nickel Refinery is one of the few functional base metal refineries in Southern Africa.
(bold added)
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