CLUFF Africa signed a non-binding agreement with Zimbabwe’s sovereign wealth fund to develop a lithium mine in the southern African country.
Cluff will be assigned a 45% share of licenses at Sandawana, founder Algy Cluff said in an emailed statement, without disclosing financial terms.
Zimbabwe is seeking to attract investors after lithium prices steadied following a boom-to-bust period that left an array of stalled projects, scrapped deals and production cuts. State miner Kuvimba Resources has said it’s identified a lithium ore resource of 38 million tons at Sandawana in the country’s south. – Bloomberg