Latest news with #TrevorBarnard
Business Insider
16-07-2025
- Business
- Business Insider
Zimbabwe partners with Chinese firms for construction of landmark $270m lithium plant
Zimbabwe's state-owned Kuvimba Mining House is set to begin construction of a $270 million lithium concentrator at its Sandawana mine in the third quarter of 2025. Kuvimba Mining House in Zimbabwe plans to construct a $270 million lithium concentrator at its Sandawana mine by 2027. The project aims to process 600,000 metric tons of lithium ore annually, developed in cooperation with Chinese partners. The Chinese companies involved will operate the plant for five years before transferring it to Kuvimba. Zimbabwe's state-owned Kuvimba Mining House is set to begin construction of a $270 million lithium concentrator at its Sandawana mine in the third quarter of 2025. According to CEO Trevor Barnard, the commissioning is targeted for early 2027. The project, designed to process 600,000 metric tons of lithium ore annually, will be developed in partnership with two major Chinese metals companies, Reuters reported. Under the agreement, the Chinese partners will build and operate the plant for at least five years before handing it over to Kuvimba. Barnard declined to disclose the names of the firms, citing ongoing negotiations. "We are still finalising the last few agreements that we need to put in place and making sure we have all the necessary and compatible industry conditions for our partner to start construction," Barnard said. "We are looking at breaking ground in the third quarter," he added. Barnard noted that the planned completion of the $270 million Sandawana lithium concentrator could align with a rebound in lithium prices. Although spot prices have since plunged by nearly 90% due to oversupply and weaker-than-expected EV demand, Chinese companies continue to invest heavily in Zimbabwe's lithium sector to secure feedstock for their domestic refineries. According to data from CRU Group, Zimbabwe accounted for roughly 14% of China's lithium imports last year. Analysts suggest that the current price slump may not last. Recent production cuts, paired with a rebound in EV sales in China, are expected to tighten the market, with lithium demand potentially outpacing supply by the end of the year. " Our forecast is that lithium prices will recover sometime in the year 2027, right at a point in time when we expect the concentration plant to be in production," Barnard said. Lithium export control Last month, Zimbabwe, Africa's leading lithium producer, announced plans to ban the export of lithium concentrates starting January 2027, as part of a broader strategy to boost local value addition in the mining sector. For years, Chinese firms operating in Zimbabwe have exported lithium concentrates to China for refining, bypassing local processing. As part of its industrialisation drive, Zimbabwe revealed that two lithium sulphate processing plants are currently under development. One is at Bikita Minerals, owned by China's Sinomine Resource Group, and the other at Prospect Lithium Zimbabwe, operated by Zhejiang Huayou Cobalt.
Reuters
16-07-2025
- Business
- Reuters
Zimbabwe aims to break ground for $270 million new lithium plant this year
HARARE, July 16 (Reuters) - Zimbabwe's Kuvimba Mining House will begin construction of a $270 million lithium concentration plant at its Sandawana mine in the third quarter of this year, with commissioning expected in early 2027, CEO Trevor Barnard said. The state-owned miner is partnering with two Chinese metals giants to build the 600,000 metric ton per year lithium concentrator. The two firms will build and operate the plant for a minimum of five years, before transferring it back to Kuvimba. Barnard declined to name the companies, citing ongoing talks. "We are still finalising the last few agreements that we need to put in place and making sure we have all the necessary and compatible industry conditions for our partner to start construction," Barnard told reporters. "We are looking at breaking ground in the third quarter," he added. Kuvimba, which has been stockpiling lithium ore at Sandawana, has been hauling some of it to a processing plant in Gwanda, owned by Chinese nickel and steel giant Tsingshan Holding Group. Barnard said the targeted completion of the Sandawana lithium concentrator could coincide with a recovery in the price of the battery metal. A supply glut mainly driven by Chinese output has caused lithium prices to plunge nearly 90% over the past two years, forcing miners to halt projects and cut jobs. However, analysts say those production cuts and robust electric vehicle sales in China could propel lithium demand above supply this year. "Our forecast is that lithium prices will recover sometime in the year 2027, right at a point in time when we expect the concentration plant to be in production," Barnard said. Zimbabwe, Africa's top lithium producer, has said it will ban the export of lithium concentrates from 2027 to push for more local processing. By then, the government expects Zhejiang Huayou Cobalt ( opens new tab and Sinomine ( opens new tab to have completed facilities for further processing in the country.
Zawya
16-07-2025
- Business
- Zawya
Zimbabwe aims to break ground for $270mln new lithium plant this year
Zimbabwe's Kuvimba Mining House will begin construction of a $270 million lithium concentration plant at its Sandawana mine in the third quarter of this year, with commissioning expected in early 2027, CEO Trevor Barnard said. The state-owned miner is partnering with two Chinese metals giants to build the 600,000 metric ton per year lithium concentrator. The two firms will build and operate the plant for a minimum of five years, before transferring it back to Kuvimba. Barnard declined to name the companies, citing ongoing talks. "We are still finalising the last few agreements that we need to put in place and making sure we have all the necessary and compatible industry conditions for our partner to start construction," Barnard told reporters. "We are looking at breaking ground in the third quarter," he added. Kuvimba, which has been stockpiling lithium ore at Sandawana, has been hauling some of it to a processing plant in Gwanda, owned by Chinese nickel and steel giant Tsingshan Holding Group. Barnard said the targeted completion of the Sandawana lithium concentrator could coincide with a recovery in the price of the battery metal. A supply glut mainly driven by Chinese output has caused lithium prices to plunge nearly 90% over the past two years, forcing miners to halt projects and cut jobs. However, analysts say those production cuts and robust electric vehicle sales in China could propel lithium demand above supply this year. "Our forecast is that lithium prices will recover sometime in the year 2027, right at a point in time when we expect the concentration plant to be in production," Barnard said. Zimbabwe, Africa's top lithium producer, has said it will ban the export of lithium concentrates from 2027 to push for more local processing. By then, the government expects Zhejiang Huayou Cobalt and Sinomine to have completed facilities for further processing in the country. (Reporting by Chris Takudzwa Muronzi. Editing by Nelson Banya and Mark Potter)
Time of India
16-07-2025
- Business
- Time of India
Zimbabwe aims to break ground for $270 million new lithium plant this year
Zimbabwe's Kuvimba Mining House will begin construction of a $270 million lithium concentration plant at its Sandawana mine in the third quarter of this year, with commissioning expected in early 2027, CEO Trevor Barnard said. The state-owned miner is partnering with two Chinese metals giants to build the 600,000 metric ton per year lithium concentrator. The two firms will build and operate the plant for a minimum of five years, before transferring it back to Kuvimba. Barnard declined to name the companies, citing ongoing talks. "We are still finalising the last few agreements that we need to put in place and making sure we have all the necessary and compatible industry conditions for our partner to start construction," Barnard told reporters. "We are looking at breaking ground in the third quarter," he added. Kuvimba, which has been stockpiling lithium ore at Sandawana, has been hauling some of it to a processing plant in Gwanda, owned by Chinese nickel and steel giant Tsingshan Holding Group . Barnard said the targeted completion of the Sandawana lithium concentrator could coincide with a recovery in the price of the battery metal. A supply glut mainly driven by Chinese output has caused lithium prices to plunge nearly 90% over the past two years, forcing miners to halt projects and cut jobs. However, analysts say those production cuts and robust electric vehicle sales in China could propel lithium demand above supply this year. "Our forecast is that lithium prices will recover sometime in the year 2027, right at a point in time when we expect the concentration plant to be in production," Barnard said. Zimbabwe, Africa's top lithium producer, has said it will ban the export of lithium concentrates from 2027 to push for more local processing. By then, the government expects Zhejiang Huayou Cobalt and Sinomine to have completed facilities for further processing in the country.
Zawya
26-05-2025
- Business
- Zawya
Zimbabwe's Kuvimba Mining seeks $950mln in financing
Zimbabwe's Kuvimba Mining House is seeking to raise $950 million to invest in raising its gold and lithium output, CEO Trevor Barnard said at a mining conference in Victoria Falls. 'First and foremost we need funding,' Barnard said. 'We require a significant amount of funding to make our businesses work.' Barnard didn't disclose the potential investors Kuvimba has engaged to raise the financing and how long the process will take. Kuvimba owns some of Zimbabwe's oldest gold mines, including Freda Rebecca and Shamva. It also mines lithium and has previously said its searching for financing to build a new platinum-group metals mine. Kuvimba's Bindura Nickel Corp was placed under administration last year after failing to raise financing to revive production following an underground equipment failure in September that halted mining operations. © Copyright The Zimbabwean. All rights reserved. Provided by SyndiGate Media Inc. (
