Chinese billionaire in synergy with Mutoko Lithium to establish a lithium processing plant

Harare- CHINESE billionaire Pei Zhenua of Suzhou TA Camp A Ultra Clean Technology has entered a synergy with Mutoko Lithium (Pvt) Ltd, Express Mail Zim can report.

The two parties signed a Joint Venture last week and the Chinese firm was represented by Sybrand van Spuy.

The plant is projected to produce two million tonnes of lithium concentrate per annum.

“We are excited to invest in Zimbabwe. We particularly find Zimbabwe an attractive country; specifically, there is abundance of resources and human capital.”

“We believe that this investment will contribute to the social and economic well-being of the country. As Chinese investors, we believe that it is important to comply with laws of the country, and we also believe in giving back to the community,” said Spuy.

The project is generally regarded as potentially the largest undeveloped lithium-bearing pegmatite in Zimbabwe, covering a surface of about 3,5 square kilometres, which is prospectively for lithium and tantalum.

According to Spuy, the project will create at least 500 people and they have also liased with the Rural District Council to build a school as part of the Community Social Responsibility programmes.

The processing plant is expected to be complete in 12 months, according to Spuy.

The development gives credence to the Second Republic’s commitment of luring investors .

Lately, there has been a lithium rush in Mazowe and Mutoko with artisinal miners flocking the sites.