Prospect Lithium Plant, a vote of confidence on Zim’s investment climate; ED
Nevanji Munyaradzi Chiondegwa
The Prospect Lithium Mine Plant built in nine months, is one of the many testimonies of the 2nd Republic under the Zimbabwe is Open for Business mantra and is a vote of confidence in Zimbabwe’s investment climate and will contribute to economic growth.
This was said by President ED Mnangagwa who said that it will contribute to achieving the mining sector target of US$12 billion as set out in the NDS1.
President Mnangagwa said that while commissioning the Prospect Lithium Mine Plant in Goromonzi. Platinum Lithium Zimbabwe (PLZ) started the construction of the plant on 20 April last year (2022), when its parent company, Zhejiang Huayou Cobalt Company Limited, acquired the Prospect Lithium Zimbabwe asset and began the work of building the plant for processing the hard rock lithium mineral resources
About 1 000 people were employed during the construction stage and hundreds more will get jobs when production goes full scale.
PLZ is not just focused on the business side of things, but also on improving infrastructure and the living standards of the people of Mashonaland East through its corporate social responsibility programs. Already, the company has invested in education, health, water, security, and road infrastructure projects that are benefitting the surrounding communities
President Mnangagwa said, “Platinum Lithium Zimbabwe is one of the many testimonies of the 2nd Republic under Zimbabwe is Open for Business mantra. Over the past four years, the mining industry has jumped from US$2.8 to US$12 billion industry. It is one of the most competitive mining jurisdictions in the world.”
He further said the vast infrastructure built in nine months will contribute to economic growth. It will contribute to achieving the mining sector target as set out in the NDS1 and said PLZ is answering his call for mining value addition and beneficiation. He added that the construction of the plant was a vote of confidence in Zimbabwe’s investment climate.
President Mnangagwa implored PLZ to consider manufacturing lithium batteries in the country saying, “Draw from your expertise and experience to eventually manufacture lithium batteries and other components in Zimbabwe.”
He thanked PLZ for its CPR program saying, “Your company must remain alive to responsible mining initiatives I launched this year, which seek to ensure adherence to the laws of Zimbabwe in relation to the environment, immigration, and global best practices.”
Commending the Chinese investment, President Mnangagwa said that whereas countries in the West desire Zimbabwe to suffer, China desires to see Zimbabwe prosper and develop.