Ionosphere Begins Lithium Concentrates Production-Zimbabwe
Ionosphere Investments has begun Lithium concentrates production at its factory in Harare Bluff hill, Managing Director Mr Nyasha Chidol has announced.
The company aims to have a product ready for shipping by February 2023 and its targeted annual output is 36,000 tonnes of lithium concentrates.
Chidol revealed plans to almost double Ionosphere’s targeted annual output to about 70 000 tonnes of Lithium concentrates and this would place the company among the country’s top four producers.
”We see all the demand is there-significantly unmet demand-for battery grade lithium in the next three years”.
“Whoever is producing lithium in the coming three years is going to make abnormally high margins”, Chidol said.
Lithium prices have risen tenfold to &75,000 a tonne since the beginning of 2021. A tight market has sparked a rush by carmakers to secure supplies of a commodity that, along with cobalt and nickel, is vital for electric vehicles.
Chidol revealed that Ionosphere is one of the new battery metals companies to do value addition and it supported the move by the government to outlaw raw Lithium exports.
”Ionosphere investments is uniquely positioned as one of really only new battery metals companies to do value addition and is in support of the government’s decision to ban the export of raw Lithium.
About Ionosphere investments
Ionosphere Investments is a leader in trading metals and minerals sourced from Zimbabwe. Built on detailed market intelligence, Ionosphere aims to grow consistently with the same integrity that laid its foundation.
The company intends to be a specific integrated mining and trading company with its core business built around Tin, Tantalum, Lithium and Beryl. It employs a 3-stage approach to the core strategy to make the business a long-term and sustainable supplier of Tantalite, Tin and Lithium Africa-specific minerals to the market.
