Prospect Lithium Pumps US$230 Million Into Lithium...

Prospect Lithium Pumps US$230 Million Into Lithium Value Chain Drive

Oscar J Jeke

Zim Now Reporter

Prospect Lithium Zimbabwe Pvt Ltd is advancing one of the country’s largest rural industrialisation projects in Mashonaland East, with investments topping US$230 million in a Lithium Sulphate Plant and a 70-megawatt power facility.

The company is spending US$196 million on the plant and US$37 million on the power station, which will supply 60MW for internal operations and transfer 10MW into the national grid. Construction, which began in 2024, is already 60% complete, with commissioning expected in December this year.

Once operational, the plant will transform lithium concentrate into lithium sulphate, a key precursor in battery manufacturing. This marks a critical shift from raw mineral exports to beneficiation, a policy priority under Zimbabwe’s value addition strategy.

Currently, the project employs over 1,000 workers, with employment numbers projected to rise significantly at full operation. Officials say the investment is also stimulating secondary economic activity in nearby Goromonzi, Bhora, Arcturus, Harare and Marondera.

Ministry of Industry and Commerce noted, “Prospect Lithium Zimbabwe Pvt Ltd embarked on a new mega project in Mashonaland East, investing over US$196 million in a Lithium Sulphate Plant and US$37 million in a 70-megawatt power plant. 60MW will be used by the company, whilst 10MW will be transferred into the national grid.”

Prospect Lithium’s investment comes at a time of heightened activity in Zimbabwe’s lithium sector. Chinese-owned Sinomine Resource Group, which controls Bikita Minerals, has invested over US$200 million in mine expansion and processing plants. Similarly, Huayou Cobalt’s Arcadia Mine near Goromonzi is ramping up lithium concentrate output following a US$422 million takeover in 2022. Other players include Sabi Star Lithium Mine in Mutoko, owned by Chengxin Lithium Group, which is constructing a 300,000-tonne per year processing plant.

Zimbabwe holds the continent’s largest lithium reserves and is targeting US$500 million in annual lithium exports by 2025, rising towards US$10 billion in broader mining revenues by 2030, under the government’s US$12 billion mining economy roadmap.