Young Pegger calls for lithium, copper crowd funding
Rising and promising young mining prospector Mr Nyasha Magadhi has called for youth in Zimbabwe to consider crowdfunding to fund lithium and copper projects in order to protect the future of Zimbabwe as the world is moving to clean energy.
Rudairo Mapuranga
He said it is important for young people who are Zimbabwe’s future to lead in copper, lithium among other metals investments for the country to benefit from the popularity of clean energy future that continues to rise with Electric Vehicles (EVs) considered the future in the transport sector when the world is prioritizing green energy.
“Zimbabwe is blessed with minerals such as copper, cobalt, nickel and lithium which are very critical in the world’s transformation towards a clean energy future.
“As the youth, we should start projects to mine these metals which are sought after in the green revolution, crowdfunding is the best thing we can do. We can start with as little as US$100 per person in our 50s or 100S and the project thereafter funds itself. It is possible, that many successful companies out there have more than 1000 shareholders but are doing just fine. We can do it, we can be the pioneers in Zimbabwe if it was never done.
“Such projects can become big to reach world-class status. I, therefore, call upon all the youth in Zimbabwe to join me and others as we seek to benefit from our mineral resources,” the 21-year-old Magadhi said.
According to experts the transfer to electric vehicles will not be possible without tons of new sources of copper, nickel and lithium because large amounts of copper, nickel and lithium are needed to build just one EV.
In one conventional gas-powered vehicle, 18 to 49 pounds of copper are needed to build one car, depending on engine size. However, in just one EV, a whopping 183 pounds of copper is needed to build one electric engine! That’s 4 to 10 times more copper.
With the soaring demand for EVs rising in the next decade, copper, lithium, and nickel demand is also expected to explode. EVs are expected to increase 14X by 2030 from the 1.8 million EVs on the road in 2010 to over 25 million EVs by 2030. That’s over 23 million new EVs in operation; this means if Zimbabwe takes the chance to mine copper, lithium, cobalt and nickel, it will benefit significantly from these developments.