Bravura to Commence Lithium Production in Zimbabwe Amid Price Slump

Bravura Holdings, owned by Nigerian tycoon Benedict Peters, plans to start production at a Zimbabwean lithium project early next year, according to a company official. Despite the current weak price of lithium, the company remains committed to commissioning the Kamativi lithium tailings project by 2025, Bravura’s group general manager Gbenga Ojo told reporters in Harare on Tuesday.

Lithium prices have plummeted by about 80% from their 2022 peak due to oversupply, but Bravura’s plans remain unaffected. "We are so confident about it," Ojo stated. "Even if it remains like this, we will go ahead with our project."

The plant being developed by Bravura will produce 30,000 tons of spodumene concentrate annually by reprocessing waste material from a tin mine that closed three decades ago. The Zimbabwean government holds a 40% stake in the project.

Benedict Peters, primarily known for his oil and gas ventures through his Aiteo Group, is expanding his footprint in the energy transition sector with this new lithium project.