Prospect Lithium  gets Sez status

The Zimbabwe Special Economic Zones (Zimseza) has granted Prospect Lithium Zimbabwe a special economic zone status in a development that will bring into the country US$165 million in foreign direct investment.

Zimseza and Prospect Lithium are now working on the modalities to operationalise the zone.

The project will attract foreign direct investment to the tune of $165 million with a potential income to Zimbabwe to the tune of approximately $2,93 billion during the first 12-year life of this resource.
Prospect Lithium Zimbabwe has completed mineral exploration work leading up to a definitive feasibility study on its mining claims on the Arcadia Lithium Project in the Arcturus area of Goromonzi.
In phase one the investment will utilise standard mining technologies common in lithium mining, namely crushing, dense media separation, spirals and flotation. 
The company is excited about the possibility of developing phase two which would be the chemical plant to produce either lithium carbonate or lithium hydroxide. 
In addition, the company’s petalite concentrates can be used in multiple configurations in the unique global glass and ceramics markets. 
The key focus of this phase will be on value addition and beneficiation. 
Zimbabwe is now focusing on exports which bring real value to the nation instead of mere commodities.
The project will attract a minimum start-up capital of approximately $165 million and the annual export revenues for the project are estimated at approximately $200 million from the year 2021.
The project will see the creation of approximately 500 jobs during the construction phase and approximately 260 direct jobs.

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