eBusiness Weekly
Michael Tome
Lithium Consolidated Limited, an Australian Securities Exchange-listed firm, has acquired Bepe and Kondo mines located in Mutare and Karoi respectively for lithium exploration and mining.The company is one of several Australian companies angling to explore lithium and other key minerals in the country.
Historically, Bepe and Kondo mines produced tantalite and visible spodumene relevant to the lithium mineral.
Consequently Lithium Consolidated is significantly positioning itself for massive potential presented by the mineral considering its ever increasing worth in recent times.
In an interview with Finance News Network, Lithium Consolidated chief executive officer Shanthar Pathmanathan, said the company will initially do a scout drilling and sampling with a potential drilling programme at the sites in the coming year.
“First of these acquisitions has already been announced, it is the acquisition of the Bepe and Kondo mines in Zimbabwe.
‘‘These are mining licenses, which were historically mined for tantalite. So we will initially do some surface geochemical sampling and we might do some scout drilling, at the very best parts of the pegmatite. And this will all lead into a comprehensive drilling programme in 2019.
“All I can say is that the due diligence is now ongoing, the process is going well.
‘‘We have observed visible spodumene mineralisation, which is the relevant lithium mineral at the Bepe mines,” said Shanthar Pathmanathan.
Zimbabwe and Mozambique are at the forefront of lithium hunt presenting rich mineral deposits (of lithium) at the surface making it a low hanging fruit for the lithium mining concern in terms of accessing the mineral and drilling costs.
Lithium has a number of important and interesting uses. In recent years, it has been used to make lightweight, efficient batteries. Compounds of lithium have also been used to treat a mental disorder known as bipolar disorders.
With reserves of such a highly sort after mineral Zimbabwe and Mozambique stand to dominate the supply of lithium.
“Africa is a truly special opportunity in lithium. We have done an extensive review of the opportunities around the world.
‘‘And we believe, the greatest opportunity will be in Africa, in particular in Zimbabwe and Mozambique. ‘The lithium pegmatites are at surface, or very close to surface in Zimbabwe and Mozambique.
“We think Zimbabwe and Mozambique will become significant lithium provinces in the world and will dominate lithium supply, hard rock lithium supply.
‘‘And we are truly well positioned as a company, in these two provinces. We are now the number one listed lithium company in Mozambique. And we are the number two listed lithium company in Zimbabwe, in hard rock lithium,” he added.
