{"id":80157,"date":"2023-07-07T10:52:20","date_gmt":"2023-07-07T08:52:20","guid":{"rendered":"https:\/\/www.africa-press.net\/zimbabwe\/all-news\/prospect-exports-us40m-lithium"},"modified":"2023-07-07T14:22:28","modified_gmt":"2023-07-07T12:22:28","slug":"prospect-exports-us40m-lithium","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/zimbabwe\/all-news\/prospect-exports-us40m-lithium","title":{"rendered":"Prospect exports US$40m lithium"},"content":{"rendered":"

Africa-Press – Zimbabwe. <\/strong><\/span>PROSPECT Lithium Zimbabwe (PLZ), owned by Zhejiang Huayou Cobalt, says it has exported 30 000 tonnes of lithium concentrate valued at US$40 million since April this year as the company seeks to increase production and processing capacity.<\/p>\n

The mining firm, which launched a US$300 million processing plant on Wednesday, said this year the main focus was on infrastructural development and agriculture, reducing environmental footprint, and boosting health and education in the communities.<\/p>\n

\u201cPLZ started exporting lithium concentrate at the end of April 2023 and since then, we have exported close to 30 000t. This equates to US$40 million in revenue generation into Zimbabwe,\u201d PLZ chairperson George Fang said during the commissioning of the plant.<\/p>\n

\u201cAs we push ourselves to increase production and processing capacity of close to 90%, this will translate to more funds coming into the country.<\/p>\n

\u201cOur investment in Zimbabwe thrusts the country on the global map of renewable energy and technology value chains.\u201d<\/p>\n

Fang said the event was a culmination of enormous collective efforts which began in late 2021 when Huayou Cobalt acquired the lithium mine from Prospect Resources of Australia.<\/p>\n

He said the company embarked on the journey in April 2022 when its parent company, Zhejiang Huayou Cobalt, acquired the PLZ asset and began building the plant for processing of hard rock lithium mineral resources.<\/p>\n

\u201cThe construction work began in May 2022 and by January 2023 we had finished the construction phase. That, in itself, was a record. We salute the workers and management for the diligent work that has resulted in the wonderful results we see today,\u201d Fang said.<\/p>\n

\u201cThis is a brave new journey that the company is embarking on as a producer of new energy materials for the global market at an opportune time that the world is undergoing transformation in the energy sector and related technologies.<\/p>\n

\u201cAs a member of the global Huayou family, we are keenly aware of our mission of becoming a market leader and fit within the overall philosophy and ethic of the company.\u201d<\/p>\n

Fang said over the past two decades, the parent company had become a multinational corporation with a revenue base of more than US$48 billion and market value of more than US$100 billion, ranking among the top 500 enterprises in China.<\/p>\n

\u201cOver the past year, we have striven to contribute to the local economy and society, even before we started operations. At inception, we called on local communities to take up employment opportunities.<\/p>\n

\u201cThis prioritisation resulted in hundreds of people being employed from local villages and wards in Goromonzi district of Mashonaland East province, while more and more people with varying skills came from all over the country. Our project employed about 2 000 people during the construction stage, and is set to employ hundreds more when production goes full scale,\u201d he said.<\/p>\n

PLZ deputy general manager Trevor Barnard told NewsDay Business that the company was undertaking feasibility studies on further processing.<\/p>\n

This comes as President Emmerson Mnangagwa said the company and other lithium miners should go beyond producing lithium concentrates and focus on battery grade lithium.<\/p>\n

\u201cWe are not at the battery stage yet, it will take a regional approach from quite a few mines coming together to do beneficiation or processing,\u201d he said.<\/p>\n

Chinese miners have recently been targeting Zimbabwe\u2019s lithium mines, which hold a great deal of promise given that most of the lithium reserves in the country are still unexplored. It is believed that China owns the largest reserves in Africa.<\/p>\n

Within the past seven months, Shenzhen Chengxin Lithium Group and Sinomine Resource Group have also invested in Zimbabwe\u2019s lithium mines.<\/p>\n

Rising demand for environmentally-friendly transport is boosting sales of electric vehicles and the lithium-ion batteries that power them.<\/p>\n

For More News And Analysis About Zimbabwe<\/a> Follow Africa-Press<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Africa-Press – Zimbabwe. PROSPECT Lithium Zimbabwe (PLZ), owned by Zhejiang Huayou Cobalt, says it has exported 30 000 tonnes of lithium concentrate valued at US$40 million since April this year as the company seeks to increase production and processing capacity. The mining firm, which launched a US$300 million processing plant on Wednesday, said this year […]<\/p>\n","protected":false},"author":84,"featured_media":80155,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3,16],"tags":[1493,2189,19],"class_list":["post-80157","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-sport","tag-africa-press","tag-africa-press-zimbabwe-2","tag-zimbabwe"],"yoast_head":"\nProspect exports US$40m lithium - zimbabwe<\/title>\n<meta name=\"description\" content=\"PROSPECT Lithium Zimbabwe (PLZ), owned by Zhejiang Huayou Cobalt, says it has exported 30 000 tonnes of lithium concentr ...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/zimbabwe\/all-news\/prospect-exports-us40m-lithium\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Prospect exports US$40m lithium\" \/>\n<meta property=\"og:description\" content=\"PROSPECT Lithium Zimbabwe (PLZ), owned by Zhejiang Huayou Cobalt, says it has exported 30 000 tonnes of lithium concentr ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/zimbabwe\/all-news\/prospect-exports-us40m-lithium\" \/>\n<meta property=\"og:site_name\" content=\"zimbabwe\" \/>\n<meta property=\"article:published_time\" content=\"2023-07-07T08:52:20+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-07-07T12:22:28+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/zimbabwe\/sites\/14\/2023\/07\/sm_1688716223.297356.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1200\" \/>\n\t<meta property=\"og:image:height\" content=\"688\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"cfeditoren\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"cfeditoren\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.africa-press.net\/zimbabwe\/all-news\/prospect-exports-us40m-lithium#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/zimbabwe\/all-news\/prospect-exports-us40m-lithium\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/zimbabwe\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"Prospect exports US$40m lithium\",\"datePublished\":\"2023-07-07T08:52:20+00:00\",\"dateModified\":\"2023-07-07T12:22:28+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/zimbabwe\/all-news\/prospect-exports-us40m-lithium\"},\"wordCount\":624,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/zimbabwe\/all-news\/prospect-exports-us40m-lithium#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/zimbabwe\/sites\/14\/2023\/07\/sm_1688716223.297356.jpg\",\"keywords\":[\"Africa Press\",\"Africa Press-Zimbabwe\",\"Zimbabwe\"],\"articleSection\":[\"all news\",\"sport\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/zimbabwe\/all-news\/prospect-exports-us40m-lithium#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/zimbabwe\/all-news\/prospect-exports-us40m-lithium\",\"url\":\"https:\/\/www.africa-press.net\/zimbabwe\/all-news\/prospect-exports-us40m-lithium\",\"name\":\"Prospect exports US$40m lithium - 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