UK Firms Make Significant Progress To Lithium Mining In Zimbabwe

Two UK-listed companies have made significant progress in their efforts to mine lithium at separate projects in Zimbabwe, indicating sustained interest in Zimbabwean lithium despite an uncertain outlook for the battery metal. 

Galileo Resources, listed on London’s AIM market, has begun a drilling programme at the Kamativi target, where it discovered previously unknown lithium potential in March. The company believes its resource may be as large as the estimated 42.3-million-tonne deposit at Arcadia, which is being developed by Huayou Cobalt. newZWire cites CEO Colin Bird as saying:

We will quickly evaluate the target with an initial drill programme to test the stacked lithium-bearing pegmatites and results will determine the extent of follow-up drilling.

Meanwhile, Red Rock, another London-listed company, has been granted an environmental certificate for its first Zimbabwe project, paving the way for the company to start mining. Company chair Andrew Bell said:

Zimbabwe is a top ten lithium producer, and the biggest producer in Africa, and is known for its high-grade product. This is a significant milestone for Red Rock, and we are assessing the financial implications as we test material and delineate further the pegmatites within our licences.

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Zimbabwe’s lithium potential has attracted interest from large metals companies such as Huayou Cobalt, Sinomine, and Chengxin, as well as British juniors such as Red Rock, Galileo, Premier African Minerals, Marula, and Arkle of Ireland. While lithium prices have softened over the past year, long-term demand for the metal is expected to help sustain interest in Zimbabwean lithium.

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