Bravura Holdings, which is owned by Nigerian entrepreneur Benedict Peters, intends to commence production at a lithium project in Zimbabwe early next year.
Company general manager, Gbenga Ojo, told reporters that the miner is steadfast in its commitment to completing the Kamativi lithium tailings project in 2025, despite the low price of the battery metal.
Even though lithium has become a critical component of the energy revolution, its prices have plummeted by around 80% since the pinnacle of the boom in 2022 due to an oversupply.
Bravura's strategies will not be affected by the current market.
“We are so confident about it,” Ojo was quoted as saying by Bloomberg. “Even if it remains like this, we will go ahead with our project.”
He said that the plant Bravura is developing will be capable of producing 30,000 tonnes of spodumene concentrate annually, a lithium-bearing mineral, by reprocessing the waste material that was left behind by a tin mine that closed three decades ago.
The Zimbabwean government is a minority partner in the project, with a 40% share.
Mathew Nyaungwa, Editor in Chief of the African Bureau, Rough&Polished
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