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China’s Zimbabwe Lithium Plant to be Ready for 2023 – SCMP

Zhejiang Huayou Cobalt is splashing $300 million on the new plant, aimed at bolstering China’s battery materials supply for the electric vehicle (EV) market, report says


Lithium
Huayou, the world's biggest producer of cobalt, another battery metal, said in 2020 it would pay $389 million for Australia-listed Prospect Resources' 87% stake in Arcadia owner Prospect Lithium Zimbabwe. Photo: Bacanora.

 

China’s biggest cobalt refiner will complete development on a lithium plant in Zimbabwe by the end of this year, The South China Morning Post reported.

Zhejiang Huayou Cobalt is investing $300 million in the new plant, which is aimed at bolstering China’s battery materials supply for the electric vehicle (EV) market. The first batch of lithium will be delivered early next year, it added. Demand for lithium has soared in recent years and is expected to expand significantly as the shift from traditional combustion engine cars to EVs gains greater momentum.

 

Read the full report: The South China Morning Post.

 

 

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Alfie Habershon

Alfie is a Reporter at Asia Financial. He previously lived in Mumbai reporting on India's economy and healthcare for data journalism initiative IndiaSpend, as well as having worked for London based Tortoise Media.

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