China Mining Firms Partner with Zimbabwe on Lithium Mine
- Huayou and Tsingshan backing project despite slumping prices
- Zimbabwe has swiftly become a significant lithium producer
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Chinese miners Zhejiang Huayou Cobalt Co. and Tsingshan Holding Group Co. are defying low lithium prices to develop a deposit of the battery metal with a Zimbabwean state company.
The two firms already operate lithium projects in the southern African country and will complete a study before building a mine and processing plant at Sandawana, in the country’s south, according to the chief executive officer of Kuvimba Mining House, the state-owned firm that owns the asset. Kuvimba had announced the deal in July, without naming the partners.