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Zimbabwe is on course to become major Lithium and Tantalite producer

by Staff reporter
01 Oct 2019 at 11:58hrs | Views
Zimbabwe is on course to becoming a major producer of Lithium and Tantalite following the successful raising of capital on the London Stock Exchange by Premier Mineral Resources.

Lithium and Tantalite are two of the more than sixty types of mineral endowments that Zimbabwe is gifted with.

British based Premier Mineral Resources managed to successfully raise a quarter million pounds for further exploration on its Zulu Mining and Tantalum Project in the Matebeleland South Province.

Deputy Minister of Mines and Mining Development, Hon. Polite Kambamura, confirmed the development.

"Yes I can confirm that Premier Mineral Resources managed to get an exclusive prospecting order to kick start the mining of lithium in the country. This is line with the Government mining development policy and open for business mantra in order to be able to increase Mining output," said Kambamura.

Zimbabwe is poised to benefit from its huge lithium deposits which is used to manufacture batteries to power electric cars which are gaining popularity globally.

London Stock Exchange listed Premium Mineral Resources issued one point three million shares which were fully subscribed and the company's Chief Executive Officer, George Roach, says they are excited at the prospect of kick-starting operations which include the ongoing electrification of the RHA Tungsten Mine on the same project.

Source - zbc