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Chinese Investors Plan $2.83 Billion Metals Park in Zimbabwe

  • Plan is latest attempt by government to revive the economy
  • Park to process lithium, nickel and platinum, documents show
Soaring lithium prices have drawn investor interest to Zimbabwe.

Soaring lithium prices have drawn investor interest to Zimbabwe.

Photographer: Carla Gottgens/Bloomberg

Zimbabwe’s government approved a proposal by a group of Chinese investors to establish a $2.83 billion battery-metals park that will process metals including lithium, platinum and nickel, its latest plan to revive its moribund economy. 

Hong Kong Eagle International Investment Holding Ltd. and Pacific Goal Investment Ltd. intend to develop an integrated industrial park that will include lithium-salt and nickel-sulphate plants, and a nickel-chromium alloy smelter, Eagle International said in documents seen by Bloomberg and verified by Secretary for Mines Pfungwa Kunaka. An agreement on the plan will be signed later on Friday, Deputy Mines Minister Polite Kambamura said.