Investors are expected to pump an estimated US$300 million into the construction of a new lithium mine in southern Zimbabwe.

The Sandwana mine and processing facility is expected to produce up to 500 000 tons of lithium concentrate, used in the manufacture of electric vehicles, according to Bloomberg.

Despite spot prices of lithium decreasing over the past two years, the investors – Zhejiang Huayou Cobalt and Tsingshan Holding Group, both of China – are keen to shore up China’s supply of lithium concentrate to feed their refineries.

Both companies already have a stake in lithium mines elsewhere in Zimbabwe.

A feasibility study for Sandwana is due to be completed by the end of the year.

1 October 2024
Image: Zhejiang Huayou Cobalt

.