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Indian Firm Lohum ships first lithium ore from Zimbabwe
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INDIAN critical minerals company Lohum has dispatched its first shipment of lithium ore from Zimbabwe, marking the start of its mining operations in the country and making it the first Indian domestic company to produce lithium from overseas assets.
Lohum has secured rights to 10 lithium mining blocks in Matabeleland South Province covering about 1 100 hectares, with estimated deposits of between 30 million and 40 million tonnes of ore.
The assets are expected to support production of around 300 000 metric tonnes of lithium carbonate equivalent, with an estimated value of about US$7 billion at current prices.
The company also holds an option to acquire up to 90 additional mining blocks adjacent to its existing operations.
Lohum said the Zimbabwe investment would expand its presence across the critical minerals value chain, complementing its existing businesses in refining, advanced manufacturing and recycling.
Chief executive officer Rajat Verma said securing lithium supplies at source would help lower battery costs while strengthening India's electric vehicle supply chain.
The company plans to establish processing capabilities in Zimbabwe rather than exporting raw ore, signalling an intention to undertake greater value addition locally.
The development comes as Zimbabwe seeks to attract investment into its lithium sector while encouraging local processing and beneficiation of the country's mineral resources.
Lohum has secured rights to 10 lithium mining blocks in Matabeleland South Province covering about 1 100 hectares, with estimated deposits of between 30 million and 40 million tonnes of ore.
The assets are expected to support production of around 300 000 metric tonnes of lithium carbonate equivalent, with an estimated value of about US$7 billion at current prices.
The company also holds an option to acquire up to 90 additional mining blocks adjacent to its existing operations.
Lohum said the Zimbabwe investment would expand its presence across the critical minerals value chain, complementing its existing businesses in refining, advanced manufacturing and recycling.
Chief executive officer Rajat Verma said securing lithium supplies at source would help lower battery costs while strengthening India's electric vehicle supply chain.
The company plans to establish processing capabilities in Zimbabwe rather than exporting raw ore, signalling an intention to undertake greater value addition locally.
The development comes as Zimbabwe seeks to attract investment into its lithium sector while encouraging local processing and beneficiation of the country's mineral resources.
Source - Reuters
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