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People of Matabeleland South province received an early Christmas following the start of construction works for a multi-million dollar world class lithium mining plant in Fort Rixon.
The Zulu Lithium project, which is being implemented by the United Kingdom listed Premier African Minerals, is expected to start production early next year. Work on the project is in full swing and most of the required materials have already been delivered to the site.
Management has, however, appealed to authorities at the Beitbridge Border Post to speed up the clearance of trucks carrying critical consignment for the mine. The project manager Mr Jabulani Chirasha said the Fort Rixon project is the future of lithium mining in Zimbabwe.
Zimbabwe, as we have said before, continues to consolidate its position as the investment destination of choice in the region and beyond as evidenced by an increasing number of new companies responding to the Zimbabwe is Open for Business mantra.
Premier African Minerals joins a number of new companies that have invested millions of dollars in different sectors of the economy. Not long ago, ArcelorMittal, one of the world’s largest steel producers which is already importing 70 percent of coke produced in Zimbabwe, announced that it is planning to build coke oven batteries thereby creating thousands of jobs.
Each coke oven battery is valued at US$ 15 million and the company intends to build the coke oven batteries in Hwange and Binga districts. Since last year, the company has spent about US$140 million buying coke and coking coal from companies in Hwange. The company said it is targeting to double the amount of coke and coking coal it is buying from Zimbabwe in the next 12 months.
The procurement of coal and coke from Zimbabwe is part of ArcelorMittal South Africa’s “Africa Raw Materials Sourcing Strategy” which has seen the company replacing raw materials from overseas with regional sources.
The company had its first train direct delivery from Hwange to South Africa and plans are underway to revamp the country’s railway network.
We therefore want to call on the National Railways of Zimbabwe (NRZ) to move with speed to work on the railway network.
The other new investors are Tsingshan Holdings whose subsidiary Dinson Iron and Steel Company (Disco) is investing US$1 billion to set up an integrated Iron and Steel Plant near Mvuma and Intrachem Explosives Company which recently established a detonators plant in Kwekwe.
The foreign direct investments (FDI) being witnessed across the country, confirm the success of Zimbabwe’s engagement and re-engagement policy.
Government has also resolved to use local resources to grow the economy despite the illegal sanctions imposed on the country by the United Kingdom, the United States of America and their allies.
Guided by its development philosophy: Ilizwe lakhiwa ngabaninilo (Nyika inovakwa nevene vayo), Government continues to invite Zimbabwean professionals in the Diaspora to return home and lead in the exploitation of the country’s vast natural resources such as minerals.
Online Reporter