Bikita Minerals to Invest $500M in Lithium Sulphate Plant as Part of Zimbabwe’s Industrialization Drive
Bikita Minerals, a Zimbabwean lithium producer owned by Sinomine, plans to invest nearly $500 million in constructing a lithium sulphate plant at its mine in Bikita. This development aligns with Zimbabwe's broader strategy to move from exporting raw materials to producing value-added products, particularly in the lucrative market for battery-grade lithium.
The company's shift towards value addition follows government directives aimed at ensuring Zimbabwe reaps more benefits from its vast lithium reserves. Lithium, which is globally traded as pure salts due to its highly reactive nature, is a key component in the production of batteries, especially as the world shifts towards cleaner energy sources.
Last year, President Mnangagwa inaugurated spodumene and petalite processing plants at Bikita Minerals, following a $300 million investment, reflecting the company's long-term commitment to Zimbabwe's Vision 2030. The construction of the lithium sulphate plant is part of this continued commitment, with the plant expected to be operational by 2028.
The investment will not only boost the local economy by increasing the province’s gross domestic product but will also create numerous jobs and opportunities for downstream industries. The project is seen as a significant step towards the industrialization goals set out by Zimbabwe's government, particularly within Masvingo Province, which is rich in natural resources.
Earlier this year, Bikita Minerals also financed a $30 million power project to support the increased energy demands of its operations, further contributing to the government's rural electrification efforts.
This investment is part of a broader push by Zimbabwe to enhance industrialization, with Masvingo Province targeting to grow its GDP to $8 billion by 2030. The move aligns with the national goal of achieving an empowered upper-middle-income society as part of Vision 2030.
