Zijin Mining Group plans to start lithium production in the Democratic Republic of Congo by early 2026, amidst a legal dispute with AVZ Minerals over exploration rights. This project could lead to the first operational lithium mine in Congo, an area rich in vital minerals like copper and cobalt. With a significant lithium oxide grade, Zijin aims to secure resources despite a recent decrease in lithium prices, highlighting anticipated future demand from energy markets.
China’s Zijin Mining Group intends to commence lithium production in the Democratic Republic of Congo (DRC) by early 2026. This project will extract lithium from one of the world’s largest deposits situated in the Manono area, which is currently contested by the Australian company AVZ Minerals. Zijin aims to revive the site despite an ongoing arbitration process initiated by AVZ to reclaim its exploration license. The company was granted a mining license four months ago, identifying the site’s average lithium oxide grade at 1.51%. The initiative marks a significant milestone as it would establish the first functional lithium mining operation in Congo, a nation recognized for its substantial copper and cobalt resources. Zijin’s collaboration with the Congolese government brings forward a focus on meeting the growing demand for lithium, essential for battery production, especially given current market fluctuations. As they plan to begin production, Zijin is also assessing further refining capabilities based on reliable power access.
Zijin Mining Group is a global player in various mining sectors, including copper, gold, lithium, and zinc. The Democratic Republic of Congo is emerging as a critical area for lithium extraction, where Zijin’s Manono project could meet market needs amid a forecasted increase in demand from the electric vehicle and energy storage sectors. Following a substantial decline in lithium prices, Zijin’s strategic investments in Africa highlight a long-term vision to secure raw materials despite current supply challenges. The ongoing legal dispute with AVZ Minerals regarding exploration rights underscores the complexities of mining operations in the DRC. Thus, Zijin’s position within the intricate landscape of mining law, combined with its operational plans, reflects both ambition and strategic foresight in penetrating lithium markets.
In conclusion, Zijin Mining Group is set to initiate lithium production in Congo by 2026, tapping into one of the globe’s largest lithium deposits amid ongoing legal disputes with AVZ Minerals. This venture not only signifies the establishment of the DRC’s first operational lithium mine but also aligns with the company’s strategy to meet the increasing global demand for lithium for energy solutions. As Zijin navigates regulatory frameworks and partnership dynamics with the Congolese government, the outcome of these developments will be pivotal for the lithium market.
Original Source: www.miningweekly.com
