Sundaymail Editor
Online Reporter
A new feasibility study on the Arcadia Lithium Project in Mashonaland East has concluded that it is a “world class deposit”.
The project is 87 percent owned by battery minerals company Prospect Resources Limited.
The company announced results of a Staged Optimised Feasibility Study (Staged OFS) on the Arcadia project this week.
“The Staged OFS reflects the strong potential of Arcadia to become a compelling long life, large scale, hard rock open pit lithium mine in Zimbabwe, Southern Africa,” said the company.
“It confirms that the Project is among the best in the world for scale and cost of production when compared to existing operations and other prospective projects.
“A key competitive advantage lies in the quality of the lithium concentrate products, being high in grade and very low in impurities.”
In 2017, Arcadia’s Environmental Impact Assessment (EIA) was approved by the Zimbabwe Environmental Management Agency (EMA), which paved way for the development and operationalisation of the project.
Prospect Resources managing director Mr Sam Hosack said: “It (the study) highlights that Arcadia is one of the world’s premier hard rock lithium assets, with outstanding projected returns under a more conservative development pathway.
“With strong lithium market conditions and with renewed interest from potential partners, we are now completing the work on the Direct OFS pathway case before funding decisions are made.”
Online Reporter