Lonosphere investments has begun lithium concentrates production at it factory in Harare, Bluffhill, Managing Director Mr Nyasha Chidoh 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.

Chidoh revealed plans to also double lonosphere’s targeted annual output of about 70,000 tonnes of lithium concentrates and this would place the company among the country’s top four producers.

We will 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”, said Chidoh.

Lithium prices have risen tenfold to $75,000 a tonne since of 2021. A tight market has sparked a rush by car makers to secure supplies of commodity, that, along with cobalt and nickel, is vital for electric vehicles.

Chidoh revealed that lonosphere 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.

Lonosphere 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.

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