{"id":51903,"date":"2021-12-25T18:36:38","date_gmt":"2021-12-25T16:36:38","guid":{"rendered":"https:\/\/www.africa-press.net\/zimbabwe\/?p=51903"},"modified":"2021-12-25T18:27:50","modified_gmt":"2021-12-25T16:27:50","slug":"sale-of-zimbabwes-lithium-mine-to-chinas-zhejiang-huayou-cobalt-sparks-controversy","status":"publish","type":"post","link":"https:\/\/www.africa-press.cc\/zimbabwe\/all-news\/sale-of-zimbabwes-lithium-mine-to-chinas-zhejiang-huayou-cobalt-sparks-controversy","title":{"rendered":"Sale Of Zimbabwe\u2019s Lithium Mine To China\u2019s Zhejiang Huayou Cobalt Sparks Controversy"},"content":{"rendered":"

Africa-Press – Zimbabwe. <\/strong><\/span>China\u2019s Zhejiang Huayou Cobalt said it would pay a total of $422 million to acquire the Arcadia hard-rock lithium mine in Zimbabwe.<\/p>\n

The move marks Huayou\u2019s second raid into lithium, a key ingredient in rechargeable batteries, in the space of a week. It is the latest acquisition of overseas battery mineral resources by Chinese companies looking to shore up supply to meet demand from the burgeoning electric vehicle (EV) sector.<\/p>\n

Huayou, the world\u2019s biggest producer of cobalt, another battery metal, in 2020, said in a filing it would pay $388.8 million for Australia-listed Prospect Resources Ltd\u2019s 87% stake in Arcadia owner Prospect Lithium Zimbabwe.<\/p>\n

It will pay another $44.2 million for the 6% stake held by Zimbabwean professor Kingston Kajese and the 7% held by Tamari Trust, which previous Prospect filings show is linked to Paul Chimbodza, executive director of Prospect Lithium Zimbabwe.<\/p>\n

The Arcadia project aims to process 2.4 million tonnes of ore per year but has not yet reached commercial production. Prospect Resources said in July the first batch of petalite from pilot production had been delivered to offtake partner Sinomine and that it was also working on spodumene samples.<\/p>\n

Zimbabwe is desperate to attract investors into its mining sector, which it says will drive the recovery of its stricken economy. It has opened its doors to Chinese firms, which now operate several chrome, coal and gold mines.<\/p>\n

Last Friday, Sichuan New Energy Power Co Ltd said it agreed to a lithium production and battery recycling tie-up with Huayou in China.<\/p>\n

Meanwhile, the opposition MDC Alliance has insinuated that the transaction was corruptly done. MDC Alliance Secretary-General, Chalton Hwende said on Friday:<\/p>\n

Today\u2019s announcement of the sale of Lithium deposits to China is sad and tragic. Lithium is the new Oil. In a few years from now most cars will be running on batteries. This resources corruptly sold to the Chinese is worth Billions. A new Govrnment in 2023 will correct this.<\/p>\n

Responding to Hwende\u2019s remarks, some observers said the opposition party was criticising from an uninformed point of view or was deliberately ignoring the fact that the mine was being owned by the Australian company for years, \u201cand they never said a thing.\u201d<\/p>\n

For More News And Analysis About Zimbabwe<\/a> Follow Africa-Press<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Africa-Press – Zimbabwe. China\u2019s Zhejiang Huayou Cobalt said it would pay a total of $422 million to acquire the Arcadia hard-rock lithium mine in Zimbabwe. The move marks Huayou\u2019s second raid into lithium, a key ingredient in rechargeable batteries, in the space of a week. It is the latest acquisition of overseas battery mineral resources […]<\/p>\n","protected":false},"author":84,"featured_media":51902,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3,6,35,15],"tags":[1493,2189,7805,7803,1923,1551,7806,7804,19],"class_list":{"0":"post-51903","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-all-news","8":"category-economy","9":"category-homepage-english","10":"category-twitter","11":"tag-africa-press","12":"tag-africa-press-zimbabwe-2","13":"tag-arcadia-hard-rock-lithium-mine-zimbabwe","14":"tag-australia-listed-prospect-resources-ltd","15":"tag-chalton-hwende","16":"tag-mdc-alliance","17":"tag-prospect-lithium-zimbabwe","18":"tag-zhejiang-huayou-cobalt","19":"tag-zimbabwe"},"yoast_head":"\nSale Of Zimbabwe\u2019s Lithium Mine To China\u2019s Zhejiang Huayou Cobalt Sparks Controversy - zimbabwe<\/title>\n<meta name=\"description\" content=\"China\u2019s Zhejiang Huayou Cobalt said it would pay a total of $422 million to acquire the Arcadia hard-rock lithium mine i ...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/zimbabwe\/all-news\/sale-of-zimbabwes-lithium-mine-to-chinas-zhejiang-huayou-cobalt-sparks-controversy\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Sale Of Zimbabwe\u2019s Lithium Mine To China\u2019s Zhejiang Huayou Cobalt Sparks Controversy\" \/>\n<meta property=\"og:description\" content=\"China\u2019s Zhejiang Huayou Cobalt said it would pay a total of $422 million to acquire the Arcadia hard-rock lithium mine i ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/zimbabwe\/all-news\/sale-of-zimbabwes-lithium-mine-to-chinas-zhejiang-huayou-cobalt-sparks-controversy\" \/>\n<meta property=\"og:site_name\" content=\"zimbabwe\" \/>\n<meta property=\"article:published_time\" content=\"2021-12-25T16:36:38+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2021-12-25T16:27:50+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/zimbabwe\/sites\/14\/2021\/12\/img-61c74666bb69a.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1200\" \/>\n\t<meta property=\"og:image:height\" content=\"600\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"cfeditoren\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"cfeditoren\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/zimbabwe\/all-news\/sale-of-zimbabwes-lithium-mine-to-chinas-zhejiang-huayou-cobalt-sparks-controversy\",\"url\":\"https:\/\/www.africa-press.net\/zimbabwe\/all-news\/sale-of-zimbabwes-lithium-mine-to-chinas-zhejiang-huayou-cobalt-sparks-controversy\",\"name\":\"Sale Of Zimbabwe\u2019s Lithium Mine To China\u2019s Zhejiang Huayou Cobalt Sparks Controversy - zimbabwe\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/zimbabwe\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/zimbabwe\/all-news\/sale-of-zimbabwes-lithium-mine-to-chinas-zhejiang-huayou-cobalt-sparks-controversy#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/zimbabwe\/all-news\/sale-of-zimbabwes-lithium-mine-to-chinas-zhejiang-huayou-cobalt-sparks-controversy#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/zimbabwe\/sites\/14\/2021\/12\/img-61c74666bb69a.jpg\",\"datePublished\":\"2021-12-25T16:36:38+00:00\",\"dateModified\":\"2021-12-25T16:27:50+00:00\",\"author\":{\"@id\":\"https:\/\/www.africa-press.net\/zimbabwe\/#\/schema\/person\/2e02b5816e71b1149d79877f669a85e4\"},\"description\":\"China\u2019s Zhejiang Huayou Cobalt said it would pay a total of $422 million to acquire the Arcadia hard-rock lithium mine i ...\",\"breadcrumb\":{\"@id\":\"https:\/\/www.africa-press.net\/zimbabwe\/all-news\/sale-of-zimbabwes-lithium-mine-to-chinas-zhejiang-huayou-cobalt-sparks-controversy#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.africa-press.net\/zimbabwe\/all-news\/sale-of-zimbabwes-lithium-mine-to-chinas-zhejiang-huayou-cobalt-sparks-controversy\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.africa-press.net\/zimbabwe\/all-news\/sale-of-zimbabwes-lithium-mine-to-chinas-zhejiang-huayou-cobalt-sparks-controversy#primaryimage\",\"url\":\"https:\/\/static.africa-press.net\/zimbabwe\/sites\/14\/2021\/12\/img-61c74666bb69a.jpg\",\"contentUrl\":\"https:\/\/static.africa-press.net\/zimbabwe\/sites\/14\/2021\/12\/img-61c74666bb69a.jpg\",\"width\":1200,\"height\":600,\"caption\":\"Sale Of Zimbabwe\u2019s Lithium Mine To China\u2019s Zhejiang Huayou Cobalt Sparks Controversy\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/www.africa-press.net\/zimbabwe\/all-news\/sale-of-zimbabwes-lithium-mine-to-chinas-zhejiang-huayou-cobalt-sparks-controversy#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/www.africa-press.cc\/zimbabwe\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Sale Of Zimbabwe\u2019s Lithium Mine To China\u2019s Zhejiang Huayou Cobalt Sparks Controversy\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/www.africa-press.net\/zimbabwe\/#website\",\"url\":\"https:\/\/www.africa-press.net\/zimbabwe\/\",\"name\":\"zimbabwe\",\"description\":\"\u0623\u062e\u0628\u0627\u0631 \u064a\u0648\u0645\u064a\u0629 \u0639\u0644\u0649 \u0645\u062f\u0627\u0631 \u0627\u0644\u0633\u0627\u0639\u0629\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/www.africa-press.net\/zimbabwe\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/www.africa-press.net\/zimbabwe\/#\/schema\/person\/2e02b5816e71b1149d79877f669a85e4\",\"name\":\"cfeditoren\"}]}<\/script>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"Sale Of Zimbabwe\u2019s Lithium Mine To China\u2019s Zhejiang Huayou Cobalt Sparks Controversy - zimbabwe","description":"China\u2019s Zhejiang Huayou Cobalt said it would pay a total of $422 million to acquire the Arcadia hard-rock lithium mine i ...","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.africa-press.net\/zimbabwe\/all-news\/sale-of-zimbabwes-lithium-mine-to-chinas-zhejiang-huayou-cobalt-sparks-controversy","og_locale":"en_US","og_type":"article","og_title":"Sale Of Zimbabwe\u2019s Lithium Mine To China\u2019s Zhejiang Huayou Cobalt Sparks Controversy","og_description":"China\u2019s Zhejiang Huayou Cobalt said it would pay a total of $422 million to acquire the Arcadia hard-rock lithium mine i ...","og_url":"https:\/\/www.africa-press.net\/zimbabwe\/all-news\/sale-of-zimbabwes-lithium-mine-to-chinas-zhejiang-huayou-cobalt-sparks-controversy","og_site_name":"zimbabwe","article_published_time":"2021-12-25T16:36:38+00:00","article_modified_time":"2021-12-25T16:27:50+00:00","og_image":[{"width":1200,"height":600,"url":"https:\/\/static.africa-press.net\/zimbabwe\/sites\/14\/2021\/12\/img-61c74666bb69a.jpg","type":"image\/jpeg"}],"author":"cfeditoren","twitter_card":"summary_large_image","twitter_misc":{"Written by":"cfeditoren","Est. reading time":"2 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/www.africa-press.net\/zimbabwe\/all-news\/sale-of-zimbabwes-lithium-mine-to-chinas-zhejiang-huayou-cobalt-sparks-controversy","url":"https:\/\/www.africa-press.net\/zimbabwe\/all-news\/sale-of-zimbabwes-lithium-mine-to-chinas-zhejiang-huayou-cobalt-sparks-controversy","name":"Sale Of Zimbabwe\u2019s Lithium Mine To China\u2019s Zhejiang Huayou Cobalt Sparks Controversy - zimbabwe","isPartOf":{"@id":"https:\/\/www.africa-press.net\/zimbabwe\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.africa-press.net\/zimbabwe\/all-news\/sale-of-zimbabwes-lithium-mine-to-chinas-zhejiang-huayou-cobalt-sparks-controversy#primaryimage"},"image":{"@id":"https:\/\/www.africa-press.net\/zimbabwe\/all-news\/sale-of-zimbabwes-lithium-mine-to-chinas-zhejiang-huayou-cobalt-sparks-controversy#primaryimage"},"thumbnailUrl":"https:\/\/static.africa-press.net\/zimbabwe\/sites\/14\/2021\/12\/img-61c74666bb69a.jpg","datePublished":"2021-12-25T16:36:38+00:00","dateModified":"2021-12-25T16:27:50+00:00","author":{"@id":"https:\/\/www.africa-press.net\/zimbabwe\/#\/schema\/person\/2e02b5816e71b1149d79877f669a85e4"},"description":"China\u2019s Zhejiang Huayou Cobalt said it would pay a total of $422 million to acquire the Arcadia hard-rock lithium mine i ...","breadcrumb":{"@id":"https:\/\/www.africa-press.net\/zimbabwe\/all-news\/sale-of-zimbabwes-lithium-mine-to-chinas-zhejiang-huayou-cobalt-sparks-controversy#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.africa-press.net\/zimbabwe\/all-news\/sale-of-zimbabwes-lithium-mine-to-chinas-zhejiang-huayou-cobalt-sparks-controversy"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.africa-press.net\/zimbabwe\/all-news\/sale-of-zimbabwes-lithium-mine-to-chinas-zhejiang-huayou-cobalt-sparks-controversy#primaryimage","url":"https:\/\/static.africa-press.net\/zimbabwe\/sites\/14\/2021\/12\/img-61c74666bb69a.jpg","contentUrl":"https:\/\/static.africa-press.net\/zimbabwe\/sites\/14\/2021\/12\/img-61c74666bb69a.jpg","width":1200,"height":600,"caption":"Sale Of Zimbabwe\u2019s Lithium Mine To China\u2019s Zhejiang Huayou Cobalt Sparks Controversy"},{"@type":"BreadcrumbList","@id":"https:\/\/www.africa-press.net\/zimbabwe\/all-news\/sale-of-zimbabwes-lithium-mine-to-chinas-zhejiang-huayou-cobalt-sparks-controversy#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.africa-press.cc\/zimbabwe\/"},{"@type":"ListItem","position":2,"name":"Sale Of Zimbabwe\u2019s Lithium Mine To China\u2019s Zhejiang Huayou Cobalt Sparks Controversy"}]},{"@type":"WebSite","@id":"https:\/\/www.africa-press.net\/zimbabwe\/#website","url":"https:\/\/www.africa-press.net\/zimbabwe\/","name":"zimbabwe","description":"\u0623\u062e\u0628\u0627\u0631 \u064a\u0648\u0645\u064a\u0629 \u0639\u0644\u0649 \u0645\u062f\u0627\u0631 \u0627\u0644\u0633\u0627\u0639\u0629","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.africa-press.net\/zimbabwe\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/www.africa-press.net\/zimbabwe\/#\/schema\/person\/2e02b5816e71b1149d79877f669a85e4","name":"cfeditoren"}]}},"_links":{"self":[{"href":"https:\/\/www.africa-press.cc\/zimbabwe\/wp-json\/wp\/v2\/posts\/51903","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.africa-press.cc\/zimbabwe\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.africa-press.cc\/zimbabwe\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.africa-press.cc\/zimbabwe\/wp-json\/wp\/v2\/users\/84"}],"replies":[{"embeddable":true,"href":"https:\/\/www.africa-press.cc\/zimbabwe\/wp-json\/wp\/v2\/comments?post=51903"}],"version-history":[{"count":0,"href":"https:\/\/www.africa-press.cc\/zimbabwe\/wp-json\/wp\/v2\/posts\/51903\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.africa-press.cc\/zimbabwe\/wp-json\/wp\/v2\/media\/51902"}],"wp:attachment":[{"href":"https:\/\/www.africa-press.cc\/zimbabwe\/wp-json\/wp\/v2\/media?parent=51903"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.africa-press.cc\/zimbabwe\/wp-json\/wp\/v2\/categories?post=51903"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.africa-press.cc\/zimbabwe\/wp-json\/wp\/v2\/tags?post=51903"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}