Chinese Firms Help Zimbabwe Secure $300 Million for Lithium Mine

Skip to Content News Archives Economy Energy Oil & Gas Renewables Electric Vehicles Mining Commodities Agriculture Real Estate Mortgages Mortgage Rates Finance Banking Insurance Fintech Cryptocurrency Work Wealth Smart Money Wealth Management Investor Personal Finance Family Finance Retirement Taxes High Net Worth FP Comment Executive Women Puzzmo Newsletters Financial Times Business Essentials More Innovation Information Technology FP500 Podcasts Small Business Lives Told Tails Told Shopping Financial Post Store Obituaries Place a Notice Advertising Advertising With Us Advertising Solutions Postmedia Ad Manager Sponsorship Requests Classifieds Place a Classifieds ad Working Profile Settings My Subscriptions Saved Articles My Offers Newsletters Customer Service FAQ News Economy Energy Mining Real Estate Finance Work Wealth Investor FP Comment Executive Women Puzzmo Newsletters Financial Times Business Essentials This advertisement has not loaded yet, but your article continues below.HomePMN BusinessChinese Firms Help Zimbabwe Secure $300 Million for Lithium MineMutapa Energy Resources, Zimbabwe’s state-owned lithium miner, has secured $300 million from a group of companies, which includes Chinese entities, to develop its facilities in the southern African nation.Author of the article: You can save this article by registering for free here. Or sign-in if you have an account.(Bloomberg) — Mutapa Energy Resources, Zimbabwe’s state-owned lithium miner, has secured $300 million from a group of companies, which includes Chinese entities, to develop its facilities in the southern African nation.THIS CONTENT IS RESERVED FOR SUBSCRIBERS ONLYSubscribe now to read the latest news in your city and across Canada.Exclusive articles from Barbara Shecter, Joe O'Connor, Gabriel Friedman, and others.Daily content from Financial Times, the world's leading global business publication.Unlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.Daily puzzles, including the New York Times Crossword.SUBSCRIBE TO UNLOCK MORE ARTICLESSubscribe now to read the latest news in your city and across Canada.Exclusive articles from Barbara Shecter, Joe O'Connor, Gabriel Friedman and others.Daily content from Financial Times, the world's leading global business publication.Unlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.Daily puzzles, including the New York Times Crossword.REGISTER / SIGN IN TO UNLOCK MORE ARTICLESCreate an account or sign in to continue with your reading experience.Access articles from across Canada with one account.Share your thoughts and join the conversation in the comments.Enjoy additional articles per month.Get email updates from your favourite authors.THIS ARTICLE IS FREE TO READ REGISTER TO UNLOCK.Create an account or sign in to continue with your reading experience.Access articles from across Canada with one accountShare your thoughts and join the conversation in the commentsEnjoy additional articles per monthGet email updates from your favourite authorsSign In or Create an Account“It’s a done deal,” Innocent Rukweza, chief executive officer of Mutapa Energy said in an interview. He declined to identify the companies because one firm was listed and needed to make a regulatory disclosure first. Zimbabwe’s supply is being closely watched as it has become a major supplier of lithium feedstock following a surge of investment by Chinese companies. The southern African nation accounted for about 10% of global mined production last year, according to the US Geological Survey.Chinese investors in Zimbabwe’s lithium sector include local units of Sinomine Resource Group Co., Chengxin Lithium Group Co. and Sichuan Yahua Industrial Group Co. Sinomine and Yahua are building facilities capable of making lithium sulfate, an intermediate material used to make battery-grade chemicals, while Huayou already commissioned its own plant.Get the latest headlines, breaking news and columns.By signing up you consent to receive the above newsletter from Postmedia Network Inc.A welcome email is on its way. If you don't see it, please check your junk folder.The next issue of Top Stories will soon be in your inbox.We encountered an issue signing you up. Please try againThe nation has also halted shipments of lithium concentrate to promote domestic processing of higher value products and curb illegal shipments of the metal that’s used in the production of electric vehicle batteries. Like other African nations including Guinea, Ghana and the Democratic Republic of Congo, Zimbabwe is seeking to derive more value from its natural resources.The company has mined 2 million tons of ore from its facility in Sandawana and is in the process of setting up a plant to extract 3 million tons of lithium ore a year, Rukweza said.Sign up here for the daily Next Africa newsletter and subscribe to the Next Africa podcast on Apple, Spotify or anywhere you listen.—With assistance from Desmond Kumbuka.This advertisement has not loaded yet.Notice for the Postmedia NetworkThis website uses cookies to personalize your content (including ads), and allows us to analyze our traffic. Read more about cookies here. By continuing to use our site, you agree to our Terms of Use and Privacy Policy.