Mnangagwa admin pulls in $2.6bn lithium project

The allure of the new political administration has convinced Australian Stock Exchange (ASX)-listed Prospect Resources to commit to a lithium project near Harare, which is expected to generate over $2,6 billion in revenues in the next two decades.

The Perth, Australia-based battery minerals company, which recently indicated that it had been forced to take up a controlling stake in the local lithium assets after the "positive changes occurring in Zimbabwe under the new Zimbabwe Government", says the venture, Arcadia Lithium Project, was recently shortlisted as a priority by the Ministry of Mines and Mining Development through its 100-day programme.