BREAKING: Its official, Arcadia lithium mine officially Chinese owned

The sale of Arcadia Lithium Mine to Chinese giant Zhejiang Huayou Cobalt is officially completed.

Speaking to Mining Zimbabwe at the side lines of the event Minister of Mines and Mining Development Winston Chitando said the government has blessed the takeover of Arcadia lithium by Zhejiang Huayou Cobalt which will see the mine increase production.

He also said that in terms of lithium value addition and beneficiation, the country was aiming to employ the same strategy that was used on the PGM sector until companies are able to finance value addition.

The mine which was explored by Australian stock exchange listed mining and exploration junior Prospect Resources has a potential to become one of the world’s leading lithium producers.