Chronicle Editor
Mashudu Netsianda, [email protected]
PRESIDENT Mnangagwa has arrived in Kamativi to commission the Yahua Group Kamativi Mining Company’s 2.3 MT Spodume Mining and Processing Project (Phase One), a new lithium mining project in Hwange District.
He was welcomed by Ministers Oppah Muchinguri Kashiri, Sithembiso Nyoni, Richard Moyo, Zhemu Soda, and KMC officials.
The establishment of the massive lithium project by KMC is in line with the Second Republic’s comprehensive reforms have facilitated the growing integrated industrial-focused investment projects, which are set to transform the entire Matabeleland region.
For Matabeleland North, its vast coal and lithium mineral resources coupled with tourism, timber, gold and rich soils, have created opportunities for many locals. Hwange District alone has seen the expansion of mining investments in the last few years, with a growing focus on diversification towards coal value addition, and energy generation, which are set to enhance export prospects and job opportunities.
Under the US$12 billion mining roadmap, lithium is expected to contribute US$500 million while other minerals will contribute US$1,5 billion. The Government expects that by 2030, the mining industry will be generating upwards of US$20 billion.
KMC started operations in 2019 and is focused on lithium exploration, mining and processing within Kamativi, a former tin mine, which closed in 1994 when international prices of tin plummeted to unsustainable levels. At the time, the tin mine employed 3 000 workers and still had a lifespan of 40 years.
The Second Republic under President Mnangagwa is resuscitating the mine through its engagement and re-engagement drive. KMC has re-opened the mine and expects to invest a total of US$249 million, this time exploring lithium and not tin.
About US$100 million has already been deployed into the project. KMC is a Joint Venture Company, which is operated and controlled by a Sichuan PD Technology Group, a subsidiary of a Chinese Listed entity, Yahua Group. The local Joint Venture Partner is Defold Mine (Private) Limited.
Online Reporter