Huayou Cobalt Invests $300M in Arcadia Lithium Project in Zimbabwe
Huayou Cobalt is investing $300 million to develop the Arcadia Lithium Mine in Zimbabwe, targeting 400,000 tonnes of lithium concentrate annually. This investment is expected to boost the local economy and create significant job opportunities.
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Huayou Cobalt plans to invest $300 million in the Arcadia Lithium Mine in Zimbabwe, aiming to construct a processing plant with an annual capacity of 400,000 tonnes of lithium concentrate. The investment follows Huayou's acquisition of majority control over the mine for $378 million, located approximately 60 km east of Harare.
At least 600 local jobs will be created during the construction phase, potentially rising to 900 during full production. Huayou's involvement is seen as pivotal for transforming Zimbabwe into a key player in global electric vehicle battery production, aligning with the government's National Development Strategy 1.
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