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Pride Mahlangu, Business Reporter

DUAL-Listed junior miner, Prospect Resources says its ultra-low iron petalite from the Arcadia Lithium project in Zimbabwe has passed the second product qualification by a European-based glass and ceramics manufacturer. 

The group, which is listed on the Australia and Frankfurt Stock Exchanges owns the Arcadia Lithium mining project being developed on the outskirts of Harare.

In a statement, Prospect expressed pleasure in announcing that its ultra-low iron petalite product had progressed through the secondary qualification process after providing the manufacturer with a sample for larger-scale laboratory testing and anal.

 “Prospect is pleased to announce that following on from the announcement released on 4 November 2019, its ultra-low iron petalite product has progressed through the secondary qualification process with one of the world’s largest glass-ceramic manufacturers, based in Europe.

“The outcome from their analysis is that the ultra-low iron petalite surpasses the glass-ceramic market’s stringent ultra-low iron and alkali technical specifications,” it said.

To pass the final step in the product qualification process, Prospect’s ultra-low iron petalite product needs a full test in the production kiln. 

The process is expected to be undertaken this year once the pilot plant is constructed and a larger volume of product is available.

Prospect recently hinted that while the battery market is a key driver of lithium demand, it would also focus on tapping into the glass and ceramics industry.

The group said it was also in discussions with an additional industry-leading glass-ceramic producer also based in Europe with a view to enter into a Memorandum of Understanding, where the parties seek to develop a commercial relationship.

“Prospect is currently engaging with glass and ceramics customers across Europe, Asia and Africa who collectively, consume more than 130 000 tonnes per annum equivalent of ultra-low iron petalite,” it said.

The mining concern said its ability to consistently produce an estimated 100 000 tonnes per annum of ultra-low iron petalite product, over its nearly 16-year life-of-mine is a key attraction to customers.

The African lithium company said it anticipates being one of only two mines in the world capable of producing ultra-low iron petalite as well as being the largest player in this natural oligopoly–none of which are based in Australia.

Meanwhile, demand for Prospect’s ultra-low iron petalite is expected to be spread equally between Europe and Asia, with a considerable supply deficit for the foreseeable future.

The group has appointed AfreximBank as lead arranger of a US$143 million debt facility for its Arcadia lithium project.

The Arcadia lithium project that was granted a Special Economic Zones status is expected to create up to 10 000 jobs along the value chain. — @pridesinstinctz