The Zimbabwe lithium unit of China's Sinomine Resource has suspended operations for a week due to certain administrative issues raised by the southern African country’s government.
The company did not clarify what the concerns were but stated that it was working closely with the authorities to fix the issue.
Sinomine acquired Bikita Minerals, Zimbabwe's lone lithium-producing mine and one of Africa's oldest, for $180 million last year.
“This notice serves to inform our stakeholders and partners that we have put our operations on hold for 7 days to address administrative concerns raised by authorities at our plant,” Bikita Minerals said in a statement.
"As a law-abiding corporate, we remain committed to fully complying with all requirements of the law and expect to resume operations once all the outstanding issues have been addressed."
Zimbabwe boasts some of the world's largest hard rock lithium reserves and has lately received more than $700 million in investment from Chinese companies such as Zhejiang Huayou Cobalt and Chengxin Lithium Group.
Mathew Nyaungwa, Editor in Chief of the African Bureau, Rough&Polished
The company did not clarify what the concerns were but stated that it was working closely with the authorities to fix the issue.
Sinomine acquired Bikita Minerals, Zimbabwe's lone lithium-producing mine and one of Africa's oldest, for $180 million last year.
“This notice serves to inform our stakeholders and partners that we have put our operations on hold for 7 days to address administrative concerns raised by authorities at our plant,” Bikita Minerals said in a statement.
"As a law-abiding corporate, we remain committed to fully complying with all requirements of the law and expect to resume operations once all the outstanding issues have been addressed."
Zimbabwe boasts some of the world's largest hard rock lithium reserves and has lately received more than $700 million in investment from Chinese companies such as Zhejiang Huayou Cobalt and Chengxin Lithium Group.
Mathew Nyaungwa, Editor in Chief of the African Bureau, Rough&Polished
