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China’s Zijin Mining Launches First Lithium Search in DR Congo

China’s Zijin Mining Group said on Monday it had launched its first lithium exploration project via a joint venture with Democratic Republic of Congo-owned firm Cominiere


Zijin
Eventually, Zijin aims to take a 45.9% stake in Mongolia's Kharmagtai copper and gold mine through Khuiten Metals' 76.5% stake in the mine, the company said. Photo: Reuters.

 

China’s Zijin Mining Group Co Ltd said on Monday it had officially launched its first lithium exploration project through a joint venture with Democratic Republic of Congo (DRC)-owned firm Cominiere.

The joint venture, called Katamba Mining, has secured mining rights to two greenfield exploration and mining projects at the periphery of the Manono lithium mine in the DRC, “in order to enhance Zijin’s competitiveness in new energy minerals,” the miner said in a statement.

Manono lithium mine is controlled by Australia’s AVZ Minerals, and the mine’s reserves of lithium oxide reach 8.78 million tonnes, the statement said.

Global demand for lithium is rising as the mineral is used in lithium-ion batteries for electric vehicles.

Earlier in November, Zijin Mining had also approved investment in a smelter for its Kamoa-Kakula copper project alongside Ivanhoe Mines in the DRC in a move to reduce reliance on third-party smelters.

 

• Reuters with additional editing by Jim Pollard

 

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Jim Pollard

Jim Pollard is an Australian journalist based in Thailand since 1999. He worked for News Ltd papers in Sydney, Perth, London and Melbourne before travelling through SE Asia in the late 90s. He was a senior editor at The Nation for 17+ years and has a family in Bangkok.

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