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VARDHAAN Lithium’s entry into Zimbabwe’s mining sector marks a turning point in the country’s efforts to harness its vast mineral wealth for economic growth.

With plans to establish India’s first lithium refinery and battery manufacturing unit, the company is set to bring beneficiation and value addition to Zimbabwe’s lithium industry.

During a high-level engagement at State House in Harare, Vardhaan Lithium’s Chairman, Mr Sunil Joshi, and Managing Director, Mr Vedansh Joshi, expressed their commitment to investing in Zimbabwe’s mining sector to President Mnangagwa.

This reflects Zimbabwe’s growing importance in the global lithium supply chain, driven by the rising demand for electric vehicles (EVs) and renewable energy storage.

A Special Purpose Vehicle (SPV) named Avani Microlight, a joint venture between Vardhaan Lithium and Zimbabwe’s Microlight Mineral Resources, will explore and extract lithium in Bikita, Masvingo province.

More than just extraction, the project aims to establish a lithium battery assembly plant and an EV manufacturing facility, ensuring Zimbabwe moves beyond raw material exports.

According to Mr Martin Matoi, vice chairman and director for corporate affairs at Microlight Mineral Resources, operations will soon commence in a secured site in Bikita.

The project aligns with Zimbabwe’s industrialisation agenda, ensuring maximum benefits from its resources.

Beyond economic gains, this investment presents a crucial opportunity for skills and technology transfer.

Zimbabwean youths and professionals will undergo training in India, equipping them with expertise to support the local industry.

This initiative will create jobs and enhance Zimbabwe’s competitiveness in the global lithium market.

Indian investments in Zimbabwe have surged to US$600 million, providing direct employment to 5  000 Zimbabweans and benefiting 10 000 more indirectly.

The growing Indian presence in Zimbabwe reflects deepening bilateral relations, and Vardhaan Lithium’s investment further strengthens this partnership.

As Zimbabwe strives to attain upper-middle-income status by 2030, strategic investments like this are vital.

By leveraging technical expertise and financial resources, this venture positions Zimbabwe as a key player in the global lithium industry, unlocking industrial growth, technological advancement, and economic prosperity.