WHILE Zimbabwe has the geological resource base to step up production of lithium the political risk in the country is still so great it is highly unlikely any investment for new lithium mines will flow to Zimbabwe despite the recent regime change.
That was the dominant view from a webcast conference organised by the Investing in Mining Indaba which assessed the potential for African countries to cash in on rising demand for “energy minerals” – in particular cobalt and lithium.
Zimbabwe is currently the largest producer of lithium in Africa accounting for some 6% of world supply which it produces mainly as a by-product from other mining operations such as tin.
Cobalt 27 chairman Anthony Milewski commented: “If you are looking at opportunities and you only have $100m to invest then I don’t see that money is going to flow into lithium in risky jurisdictions in the world that we live in for the time being. The reason is there’s plenty of lithium in safe places in North America and South America”.
Cobalt 27 is a ‘pure play’ cobalt investment company with its primary listing in Toronto and a secondary listing on the Frankfurt Stock Exchange.
For the rest of this article: http://www.miningmx.com/top-story/31110-zimbabwe-miss-energy-mineral-spend-despite-regime-change/