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

Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles


Mint
25 minutes ago
- Mint
Country Garden Agrees to Key Bank Demands, Easing Debt Deal Path
(Bloomberg) -- Chinese developer Country Garden Holdings Co. has agreed to some key restructuring terms a group of bank creditors had demanded, according to people familiar with the matter, potentially easing the path for an overall debt deal. The company, once China's biggest developer, has sent a document to a group of banks known as the co-ordination committee addressing their concerns. The document details a deal in which the key term is $178 million in compensation that Country Garden will pay the banks for the return of seized collateral, the people said, asking not to be identified discussing private matters. The committee had earlier said that failure to accept some of its demands would be a 'deal breaker.' With this hurdle cleared, the next step would be for banks to sign on to the broader restructuring deal. Gaining the support of co-ordination committee members is crucial for Country Garden because the group holds enough of the company's debt to block its restructuring. Country Garden is under pressure to get a debt deal done, with its next winding up hearing scheduled for Aug. 11. High Court Judge Linda Chan said in May that she wanted to see 'useful and good progress' in the next hearing. Country Garden declined to comment. Country Garden has been in talks with creditors to restructure $14.1 billion of offshore debt since it defaulted on its dollar debt in 2023. The issue of compensation for banks releasing collateral backing certain loans has been in focus since early in the process. To get its restructuring deal approved, Country Garden needs support from three-quarters of debt holders in two individual groups — bank lenders and bondholders. It has said that it has backing from holders of 70% of bonds, but even if it gets more from that class, it still needs bank creditors to get on board to pass the plan through a 'scheme of arrangement' procedure. --With assistance from Emma Dong. More stories like this are available on


India.com
25 minutes ago
- India.com
Bad news for Trump, as China is making close ties with US ally, offers its most dangerous weapons used during Operation Sindoor against India, it is…, country is…
Saudi Arabia has long been regarded as a strong ally of the US. However, in recent years, it has appeared to forge stronger ties with China. The US has reconfigured its efforts to engage with Saudi Arabia by offering NATO-like security arrangements in return for Saudi Arabia's recognition of Israel. But the long war in Gaza has stalled negotiations on this front. On the other hand, China has enhanced its outreach to Saudi Arabia by offering military cooperation. For its part, China has offered to provide J-10 fighter jets to Saudi Arabia, the same aircraft Pakistan falsely claimed was used to shoot down India's Rafale during Operation Sindoor. Which US Ally Is Moving Closer to China? This disinformation was heavily propagated by China, Turkey, and the USA, all acting in their strategic interests. None of these countries could provide any actual evidence for this. China is now taking this same narrative to market its weapons. It has labelled the J-10 fighter jet as a combat-verified aircraft. Despite its effort, no country—including Saudi Arabia—has yet made any formal commitment to purchase the J-10 jets. While speaking to a researcher specializing in Middle East affairs at China's Northwest University stated, 'One of the reasons why Saudi Arabia prefers western weapons over its Chinese equivalent is because Chinese weapons have not seen combat in recent years.' Furthermore, he stated, 'This may change now that the Chinese-made J-10 fighter jet has drawn its first blood.' What Deal Has China Offered? Saudi Arabia has consistently relied on the United States for both its security needs and the sustainability of its petrodollars-driven economy. Due to this, Saudi Arabia remained one of the largest defense buyers of America. However, in recent years, there has been tension in the relationship between the two countries. During Joe Biden's presidency, the U.S. appeared willing to distance itself from Saudi Arabia, most notably by stopping support for its fight against Houthi rebels; even though, at Washington's request, Saudi Arabia had created a military coalition against the Houthis. The U.S. further stressed the relationship by removing air defense systems from the Middle East in order to bolster European security because of the situation with Russia. Consequently, Saudi Arabia has sought alternative partners for defense cooperation to lessen its reliance on Washington. Meanwhile, turning fully away from the dependency on Washington and towards China is still complicated. Seeing an opening, China's intensification in its outreach has included offers of military equipment (i.e., ballistic missiles, drones, howitzers, and air defense systems), at competitive prices and unconditional options. So far, however, Saudi Arabia has exported most of its new defense systems from the United States. In May, the United States and Saudi Arabia finalized a $142 billion arms deal that the White House declared was the 'largest defense sales agreement in history.' The agreement was completed during President Donald Trump's visit to the Kingdom; this visit was the first stop on a four-day tour of the Gulf. It was the first example of the transactional nature of the foreign policy pursued by Trump.


Indian Express
an hour ago
- Indian Express
India-UK trade deal: Will export volume of Indian medical devices go up?
Indian Prime Minister Narendra Modi and UK Prime Minister Keir Starmer signed the India-UK free trade agreement on Thursday, allowing wider access to Indian exports in the UK markets. Pharmaceuticals and medical devices will enjoy zero-duty access under this agreement. With most pharmaceuticals and medical devices exported to the UK already being duty-free, industry experts say easing regulatory norms are likely to have a bigger impact in facilitating Indian exports to the UK. What does the trade deal say about the drugs and medical devices sector? The zero-tariff provisions are likely to make Indian generic medicines more cost-effective in the UK market, as per the agreement. 'India exports USD 23.31 billion globally and the UK imports nearly USD 30 billion, but Indian pharma accounts for under USD 1 billion, indicating significant headroom for growth,' the sectoral outcome summary states. When it comes to medical devices, the agreement says that surgical instruments, diagnostic equipment, ECG machines, X-Ray systems among others will not attract any duty. 'This will reduce costs for Indian med-tech companies and make their products more competitive in the UK market,' the agreement says. The agreement adds that India has emerged as a cost-effective alternative to China, given that the UK is trying to move away from reliance on Chinese imports after Brexit and Covid-19. The agreement says: 'Indian manufacturers are poised to emerge as a favoured, cost-effective alternative, especially with zero-duty pricing for medical devices.' What do Indian manufacturers have to say? When it comes to pharmaceuticals, the agreement is unlikely to lead to a sudden, sharp increase in Indian exports to the UK. An industry expert, who did not want to be named, said, 'The pharmaceutical industry is likely to continue growing at its current trajectory — at around 10 per cent every year — because most of the drugs were already exempt from duty in the UK. What will help is easing of the regulatory framework, which will allow more Indian companies to enter the UK market and quickly.' Companies may end up spending thousands of dollars in getting the requisite approvals to sell in the UK. The same is true for medical devices as well. Rajiv Nath, forum coordinator of Association of Indian Medical Device Industry (AiMeD), said, 'Medical devices imported from India by UK were duty-free previously as well, so tariff restrictions were not an issue. It was the time and cost of regulatory approvals that were a challenge.' He added that the industry had previously sought the recognition of approvals granted by the country's apex drug regulator, CDSCO, or voluntary Quality Control of India certification for fast-tracking regulatory approvals in the UK. Nath added that the lowering of the 7.5 per cent duty levied by India on most UK manufactured medical devices would hopefully happen in a phased manner. He added another caution: 'There is a need for strict verification of the rules of origin of the medical devices in order to ensure that products manufactured by a third country are not routed through the UK for the tariff benefit. This is to ensure that India's nascent medical device industry remains competitive.' How many pharmaceutical products does the UK import from India? UK is the second largest importer of Indian pharmaceutical products, having purchased goods worth USD 913.97 million in FY2025. The country accounted for three per cent of all pharmaceutical exports from India. The largest importer of Indian pharmaceuticals continues to be the US, accounting for 34.5 per cent of the total exports, amounting to USD 10,515 million. The most commonly exported products from India are generic versions of small-molecule pills as well as biologicals (medicines derived from living organisms or cells). What's the quantum of medical devices that the UK imports from India? Export of Indian medical devices to the UK went up by 13 per cent in FY24 as compared to the previous year. These devices were worth Rs 1,015 crore, up from Rs 897.4 crore the previous year. The most common exports to the UK were contact lenses, diagnostic reagents, surgical instruments and PPE kits. Anonna Dutt is a Principal Correspondent who writes primarily on health at the Indian Express. She reports on myriad topics ranging from the growing burden of non-communicable diseases such as diabetes and hypertension to the problems with pervasive infectious conditions. She reported on the government's management of the Covid-19 pandemic and closely followed the vaccination programme. Her stories have resulted in the city government investing in high-end tests for the poor and acknowledging errors in their official reports. Dutt also takes a keen interest in the country's space programme and has written on key missions like Chandrayaan 2 and 3, Aditya L1, and Gaganyaan. She was among the first batch of eleven media fellows with RBM Partnership to End Malaria. She was also selected to participate in the short-term programme on early childhood reporting at Columbia University's Dart Centre. Dutt has a Bachelor's Degree from the Symbiosis Institute of Media and Communication, Pune and a PG Diploma from the Asian College of Journalism, Chennai. She started her reporting career with the Hindustan Times. When not at work, she tries to appease the Duolingo owl with her French skills and sometimes takes to the dance floor. ... Read More