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Nqobile Bhebhe, Senior Business Reporter
LITHIUM miner, Bikita Minerals, has announced a multi-million dollar investment plan that includes the construction of a 132KVA power line, earning the Government an estimated annual foreign exchange income of US$300 million.

Also included in the investment is a US$200 million spodumene processing plant and expansion of the current pestilent plant.

Money -Image taken from Shutterstock

Since Sinomie acquired Bikita Minerals (PVT) LTD in January this year, the firm has carried out business activities under the country’s regulatory requirements, including increasing investment, initiating mineral exploration and processing low grade ore and expand production.

The mine said more than 1 000 people would be absorbed in construction projects in Masvingo.

“First, we are planning to invest US$200 million to build a new spodumene processing plant and expand the current pestilent plant” it said.

Lithium

Petalite is the major mineral mined at the Masvingo-based mining concern and contains 4,5 percent of lithium.

The mining venture joins other mining companies that are producing power for their own use and offloading excess onto the national grid.

“Second, we are expecting to build up a 110-kilometre power line from Tokow via Masvingo to Bikita of 132 KVA, which will improve the state grid and benefit surrounding communities.

“Third, we are expecting to recruit more than 1 000 local employees after commissioning of the new spodumene plant, which will create more work opportunities for local community and following with a more harmonious community atmosphere.”

Spodumene is a lithium used to make batteries, while petalite is a lithium mineral that is used in the production of glass and ceramics.

After completion of investment and construction, it said it envisages an annual foreign exchange income of US$300 million which also means that the Government will receive more tax for utility use. — nqobilebhebhe