logo
Zimbabwe aims to break ground for $270mln new lithium plant this year

Zimbabwe aims to break ground for $270mln new lithium plant this year

Zawya16-07-2025
Zimbabwe's Kuvimba Mining House will begin construction of a $270 million lithium concentration plant at its Sandawana mine in the third quarter of this year, with commissioning expected in early 2027, CEO Trevor Barnard said.
The state-owned miner is partnering with two Chinese metals giants to build the 600,000 metric ton per year lithium concentrator. The two firms will build and operate the plant for a minimum of five years, before transferring it back to Kuvimba. Barnard declined to name the companies, citing ongoing talks.
"We are still finalising the last few agreements that we need to put in place and making sure we have all the necessary and compatible industry conditions for our partner to start construction," Barnard told reporters.
"We are looking at breaking ground in the third quarter," he added.
Kuvimba, which has been stockpiling lithium ore at Sandawana, has been hauling some of it to a processing plant in Gwanda, owned by Chinese nickel and steel giant Tsingshan Holding Group.
Barnard said the targeted completion of the Sandawana lithium concentrator could coincide with a recovery in the price of the battery metal.
A supply glut mainly driven by Chinese output has caused lithium prices to plunge nearly 90% over the past two years, forcing miners to halt projects and cut jobs. However, analysts say those production cuts and robust electric vehicle sales in China could propel lithium demand above supply this year.
"Our forecast is that lithium prices will recover sometime in the year 2027, right at a point in time when we expect the concentration plant to be in production," Barnard said.
Zimbabwe, Africa's top lithium producer, has said it will ban the export of lithium concentrates from 2027 to push for more local processing. By then, the government expects Zhejiang Huayou Cobalt and Sinomine to have completed facilities for further processing in the country.
(Reporting by Chris Takudzwa Muronzi. Editing by Nelson Banya and Mark Potter)
Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

Why SCO Summit At Tianjin On August 31 Is Crucial For India-China Relations?
Why SCO Summit At Tianjin On August 31 Is Crucial For India-China Relations?

Arabian Post

time3 hours ago

  • Arabian Post

Why SCO Summit At Tianjin On August 31 Is Crucial For India-China Relations?

By Nitya Chakraborty The recent months have not been comfortable for India with its two neighbours Pakistan and India, but as regards the third most powerful neighbouring county China, th scenario has turned different. India-China ties which became bitter at the time of clashes in Galwan valley in 2020, started softening from last year and the process of normalization got more effective after the bilateral meeting between Prime Minister Narendra Modi and the Chinese President Xi Jinping at the BRICS meeting in Kazan, Russia in October 2024. There are hopes in New Delhi that this normalization process may get further boost after the coming meeting between the two leaders at the Shanghai Cooperation Organisation (SCO) summit at Tianjin in China on August 31 and September 1. Only on Wednesday, July 23, India announced resumption of tourist visas for Chinese nationals which were stopped since the 2020 clash. This was long overdue but the decision as also China's satisfaction at the outcome of India-China diplomatic talks on border situation, have created an environment for further improvement of bilateral relations in a situation of global turmoil. Already China has given permission for the Kailash Mansarovar yatra. This people to people approach agreed to by both governments has definitely prepared the base for a much bigger breakthrough in sorting out some of the other issues on which differences persist. The coming bilateral summit between Narendra Modi and Xi Jinping may give some positive direction to that end. SCO dominated by China and Russia has presently ten members-China, Russia, India, Pakistan, Uzbekistan, Kazakhstan, Kyrgyzstan, Tajikistan, Iran and Belarus. The observers are Iran, Turkey, Azerbaijan, Turkmenistan, Mongolia, Qatar and UAE. China is hosting the SCO meeting for the fifth time and the most important thing is that Russian President Vladimir Putin is also expected to attend the August summit. That way, PM Modi can have a bilateral meeting with President Putin also. President Putin is scheduled to visit India by the end of this year. The SCO summit will give the Indian PM an opportunity to discuss India-Russia elations in the context of the latest global developments. As China sees SCO 2025 summit as a host, the Summit will stay true to its founding mission and carry forward the Shanghai Spirit. Mutual trust, mutual benefit, equality, consultation, respect for diversity of civilisations and pursuit of common development illustrate what a new type of international relations should be. The deliberations at the Summit will focus on the consolidation of the security of the member nations. Interestingly, Chinese foreign minister Wang Yi hinted at USA without naming it by saying that a certain country puts its own interests over the international public good, undermining the common interests of the international community. The SCO should take the 80th anniversary of the founding of the United Nations (UN) as an opportunity to champion the common values of humanity, safeguard the legitimate rights and interests of member states, and work for a more just and equitable global governance system. The SCO declaration is expected to contain a charter for the next development decade. On July 15 at a meeting with the SCO foreign ministers, President Xi Jinping said that China has always prioritised the SCO in its neighbourhood diplomacy and is committed to making the SCO more substantive and stronger, safeguarding regional security and stability, promoting the development and prosperity of member states, and building a closer community with a shared future. Xi Jinping stressed that in the face of a turbulent and changing international landscape, the SCO must stay focused, remain confident, act efficiently and play a more proactive role in injecting greater stability and positive energy into the world. Xi is expected to have a meeting with President Putin also at the Tianjin Summit. Similarly, Indian PM Narendra Modi will have the opportunity to talk to President Putin also and discuss India-Russia relations in the context of latest global developments. Significantly, the Chinese media is taking a positive view of the India- China bilateral relations in recent days. The Chinese official daily Global Times said in its July 23 issue that the resumption, in June, of Indian pilgrims visiting Xizang Autonomous Region's 'sacred mountain and lake' reflects the goodwill and reliability of the Chinese side. India's easing of tourism visa restrictions is also a natural, reciprocal step. Official sources indicate that relevant departments in both countries are working toward the resumption of direct air links, and the routes will reopen soon. Lifting unreasonable restrictions on Chinese students, scholars and journalists, as well as removing investment and operational barriers for Chinese companies in India, must also be prioritized without delay by the Indian side, says Global Times editorial. According to GT, India's move is only a starting point. Therefore, while this 'progress' is welcomed, it remains important to watch whether India will take more substantial steps in areas such as visa approval rates, tourist services and safety, and the possible relaxation of visa requirements going forward. India should do more to build mutual trust, bridge perception gaps, and foster goodwill among the two peoples. The main issue in India-China relations is trust and perception. This can be tackled only at the highest level of the leadership of the two countries. If both Narendra Modi and Xi Jinping can initiate a process for further normalizing the bilateral relations, that will be a major event in the Asian diplomacy. (IPA Service)

First foreign firm takes ownership of Saudi football club
First foreign firm takes ownership of Saudi football club

Al Etihad

time9 hours ago

  • Al Etihad

First foreign firm takes ownership of Saudi football club

24 July 2025 21:18 RIYADH, SAUDI ARABIA (AFP) A foreign company sealed the purchase of a Saudi football club - a first in the kingdom - the country's Sports Ministry said Thursday, as it announced the privatisation of three teams in the Saudi Pro League. The Harburg Group - led by American Ben Harburg - said it had "officially completed the 100 per cent acquisition of Al Kholood Club, of the Saudi Pro League, as part of the groundbreaking privatisation initiative of Saudi Vision 2030."Last season, Al Kholood finished ninth out of the 18 teams in the Saudi Pro Harburg Group currently owns a 6.5 per cent stake in Cadiz, a club in Spain's second a separate statement, the ministry said: "The first three Saudi sports clubs have been privatised through a public offering - Al Ansar, Al Kholood, and Al Zulfi - with their ownership transferred to investment entities."Saudi Arabia has shaken up football by spending heavily on stars from Europe, starting with Cristiano Ronaldo's move in late 2022, and the desert nation will host the FIFA World Cup in the past two years, Saudi football fans could watch the likes of Ronaldo and Karim Benzema on any given weekend during the Saudi Pro League season in the Saudi football project has drawn comparisons with the Chinese Super League, which imported players on exorbitant salaries until team owners went bust as the Chinese economy fizzled. Sports are a major component of the Vision 2030 reform agenda, which aims to diversify the economy of the world's top crude oil exporter.

China's BYD to assemble EVs in Pakistan from 2026
China's BYD to assemble EVs in Pakistan from 2026

Gulf Today

time12 hours ago

  • Gulf Today

China's BYD to assemble EVs in Pakistan from 2026

Chinese electric vehicle giant BYD plans to roll out its first car assembled in Pakistan by July or August 2026 to capture growing demand for electric and plug-in hybrid vehicles in the region, a company executive said on Wednesday. BYD, the world's top EV maker, has been expanding rapidly outside its home market, where it is in a strong price war. The Pakistan plant addresses rising demand from emerging markets and allows the company to take advantage of incentives offered by the Pakistani government. The plant has been under construction since April near Karachi in a partnership between BYD and Mega Motor Company, a subsidiary of Pakistani utility Hub Power, Danish Khaliq, vice president of sales and strategy at BYD Pakistan, told Reuters. It would initially have the capacity to produce 25,000 units a year on a double shift, he said. He did not elaborate on when the plant would achieve full capacity or say when mass production would begin there. The plant will start by assembling imported parts, with some local production of non-electric components, Khaliq said, adding it would initially produce vehicles for the domestic market, with potential to export to right-hand drive countries in the region depending on freight costs and business economics. 'We do not foresee excess capacity in our system as demand in Pakistan will catch up,' he said. BYD started delivering imported EVs in Pakistan in March. Khaliq did not give an exact sales number but said the sales of a few hundred cars had exceeded internal targets by 30%. Khaliq said he expected the market size of EVs and plug-in hybrid cars in Pakistan to grow three to four times in 2025 from around 1,000 total units in 2024. BYD is targeting a 30-35% share of the segment, Khaliq said. Based on a HUBCO filing, BYD Pakistan made around 444 million rupees ($1.56 million) in profit in the 2025 March quarter. BYD will launch its Shark 6 plug-in hybrid pickup truck in Pakistan on Friday. China's MG already sells a PHEV SUV, while rival Haval is set to join the segment soon. Plug-in hybrids offer a more practical option in Pakistan as the country faces a lack of charging stations for all-electric vehicles. The government slashed power tariffs for chargers by 45 per cent in January to encourage EV uptake and private charging stations. Reuters

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into a world of global content with local flavor? Download Daily8 app today from your preferred app store and start exploring.
app-storeplay-store