The plant at one of the world’s largest hard rock lithium resources, the Arcadia Lithium Mine, was constructed by the Chinese firm Zhejiang Huayou Cobalt Co., Ltd from May 2022 to January this year, and has an installed capacity to process 4.5 million tonnes of lithium ore per year, from which 450,000 tonnes of lithium concentrate will be exported.
Calling the completion of the plant a significant accomplishment, Mnangagwa said at the event that it “will position our country as an emerging and competitive player in the global lithium value chain.”
“This is indeed a vote of confidence in Zimbabwe’s investment climate,” he said.
The plant will not only help the country meet its mining industry target of 12 billion U.S. dollars by 2023, but also contribute to achieving the country’s Vision 2030 to “fundamentally transform Zimbabwe to an upper middle income economy,” in which the mining industry plays a big part, Mnangagwa said.