BEIJING:
China’s Zijin Mining Group Co. Ltd stated on Monday it had formally launched its first lithium exploration undertaking by means of a three way partnership with Democratic Republic of Congo (DRC)-owned agency Cominiere.The three way partnership, known as Katamba Mining, has secured mining rights to 2 greenfield exploration and mining initiatives on the periphery of the Manono lithium mine within the DRC, “in an effort to improve Zijin’s competitiveness in new vitality minerals,” the miner stated in a press release.
Manono lithium mine is managed by Australia’s AVZ Minerals, and the mine’s reserves of lithium oxide attain 8.78 million tonnes, the assertion stated.
World demand for lithium is rising because the mineral is utilized in lithium-ion batteries for electrical autos.
Earlier in November, Zijin Mining had additionally authorised funding in a smelter for its Kamoa-Kakula copper undertaking alongside Ivanhoe Mines within the DRC in a transfer to scale back reliance on third-party smelters.
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The Serbian authorities on Thursday cancelled licenses for a serious lithium undertaking owned by Anglo-Australian miner Rio Tinto Plc, which trade specialists stated is more likely to extend the provision scarcity to mid-decade.
Lithium costs soared final 12 months amid provide constraints, as automakers around the globe started investing billions of {dollars} to transition to cleaner modes of transportation due to a worldwide push to chop carbon emissions.
