BY Owen Mandovha
Zimbabwe’s prospects of becoming a major global producer of lithium continue to get brighter following optimisation of works by thirty-nine percent of upgraded ore reserves at the Arcadia Mine in Arcturus.
Prospect Resources completed its pre-feasibility study at the Arcadia Lithium Mine in June 2017 in the Mashonaland East province that included a declaration of maiden ore reserves.
Further exploration works have revealed an increase in upgraded ore reserves of lithium by thirty-nine percent, further extending the lifespan of the company and its project economics.
Prospect Resources Managing Sam Hosack said recently in a statement, “The Prospect team has worked tirelessly to extract the maximum value from the Arcadia deposit, with technical support from CSA Global we have added significantly to our inventory and reinforced the strength of Arcadia’s project economics”.
“This incredible result confirms Arcadia as a globally unique and significant lithium deposit to supply the glass and ceramics market with technical grade ultra-low iron petalite.”
“We see the battery market as a key driver of lithium demand growth but remain focused on the glass and ceramics market where Arcadia seeks to become a significant, consistent and reliable high-quality supplier and access the premium prices available in this market.”
The Arcadia lithium project positions Zimbabwe as a favourable destination of international capital as the government continues to institute various economic reforms. The Arcadia Lithium project covers 10km² over the Arcadia pegmatite swarm with an identified strike of 4.5kms.