Zijin Mining Launches $1.4 Billion Lithium Project in DRC
Zijin Mining is set to commence operations at the Manono lithium mine in the Democratic Republic of the Congo, projected to produce up to 130,000 tons of lithium carbonate annually. This mine could represent 5% of the global lithium supply by 2028, enhancing Africa's role in the lithium market amid rising demand from battery production.
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Zijin Mining's Manono lithium project, valued at approximately $1.4 billion, is expected to commence production this month in the Democratic Republic of the Congo. At full capacity, the mine could generate between 850,000 and 875,000 tons of lithium concentrate annually, which will be processed into battery materials, contributing significantly to global production.
Zijin holds a 61% stake in the joint venture, with the remainder owned by the state mining company Cominière and the Congolese government. However, the project faces ownership disputes, as AVZ Minerals claims rights to the area, having previously lost its license to the Congolese government. The geopolitical landscape is shifting, as the U.S. aims to redirect some Congolese lithium supplies to Western markets to counter Chinese influence in Africa.
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