An Indian mining company has partnered with a local firm for the exploration, mining, and beneficiation of lithium in Bikita, Masvingo province.
Vardhaan which is set to establish India’s first lithium refinery and battery manufacturing unit, and Microlight Mineral Resources, a Zimbabwean company, have joined a Special Purpose Vehicle (SPV) known as Avani Microlight, which will see the two companies exploring the country’s mineral resources in Bikita.
This came out when representatives of the companies met President Emmerson Mnangagwa at State House in Harare this Thursday.
The delegation which included the India- headquartered company’s Chairman, Mr Sunil Joshi, and Managing Director Mr Vedansh Joshi spoke to President Mnangagwa about their interest in investing in the country’s mining sector.
In an interview after their closed-door meeting with President Mnangagwa, Microlight Mineral Resources’ vice chairman and director for corporate affairs Mr Martin Matoi laid out the two companies’ plans.
He said a place for the commencement of their SPV operations had since been secured.
“The two companies (Vardhaan and Microlight) have joined an SPV known as Alvin Microlite to do exploration, mining, value addition, and beneficiation in the Bikita area of Masvingo.
“The whole objective is that at least they are going to invest in mineral exploration and beneficiation and the ultimate goal is to establish a battery assembly plant in Bikita and an electric vehicle manufacturing plant in the same area.
“So at least an area has been secured, say, in the Bikita area where these operations are going to be carried out,” he said.
