BEIJING : China’s Zijin Mining Group Co. Ltd stated on Monday it had formally launched its first lithium exploration project by means of a three way partnership with Democratic Republic of Congo (DRC)-owned agency Cominiere.
The three way partnership, known as Katamba Mining, has secured mining rights to 2 greenfield exploration and mining tasks on the periphery of the Manono lithium mine in the DRC, “in order to enhance Zijin’s competitiveness in new energy minerals,” the miner stated in a press release.
Manono lithium mine is managed by Australia’s AVZ Minerals, and the mine’s reserves of lithium oxide attain 8.78 million tonnes, the assertion stated.
Global demand for lithium is rising because the mineral is used in lithium-ion batteries for electrical autos.
Earlier in November, Zijin Mining had additionally authorised funding in a smelter for its Kamoa-Kakula copper project alongside Ivanhoe Mines in the DRC in a transfer to cut back reliance on third-party smelters.
(Reporting by Emily Chow; Editing by Rashmi Aich)