Zimbabwe is in search of to draw buyers after lithium costs steadied following a boom-to-bust interval that left an array of stalled tasks, scrapped offers and manufacturing cuts. State miner Kuvimba Assets Ltd. has mentioned it’s recognized a lithium ore useful resource of 38 million tons at Sandawana within the nation’s south.
“We will now start to develop what we imagine to be a world-class, high-grade lithium useful resource,” Cluff mentioned. The corporate will begin a drilling program as quickly because it has signed a remaining settlement with the wealth fund, it mentioned, with out giving a timeframe.
Trade veteran Algy Cluff has beforehand invested in Zimbabwe’s gold sector, however is greatest recognized for his North Sea oil and fuel firm Cluff Pure Assets Plc — now Deltic Power Plc.
Zimbabwe’s wealth fund additionally holds gold, nickel and platinum mines. Calls to the fund went unanswered.
(By Godfrey Marawanyika)