Bravura Holdings Ltd., owned by pan-African billionaire Benedict Peters, is set to commence lithium production in Zimbabwe by early 2025. Despite the low price of battery metal, the mining company is still dedicated to commissioning the Kamativi lithium tailings project in 2025, as reported by Gbenga Ojo, group general manager of Bravura, to reporters on Tuesday.
This development comes even as global lithium prices have declined by 80% from their peak in 2022, a result of market oversupply. However, Bravura’s leadership has expressed unflinching confidence in the project’s sustainability, situated in the nation’s capital, Harare.
Gbenga Ojo emphasized the firm’s readiness to progress regardless of the state of the economy. “Even if market conditions persist as they are, we are fully committed to moving forward with our project,” Ojo stated, highlighting the strategic importance of the venture not only to Bravura but also to Zimbabwe’s economy.
Repurposing waste material from a closed tin mine, the Kamativi lithium tailings project aims to produce an estimated 30,000 tons of spodumene concentrate annually. Spodumene is a lithium-bearing mineral that is essential for making lithium-ion batteries, which are in high demand for renewable energy storage systems and electric vehicles. The government of Zimbabwe is a strategic partner in this venture, owning a 40% stake, which highlights the project’s importance to the local economy and its alignment with Zimbabwe’s larger objectives of developing its mining sector and embracing renewable energy technologies.
For Bravura, the Kamativi project is more than just a corporate venture; it is a major pledge to sustainable development and economic growth in Zimbabwe. Through the utilization of waste material from past mining operations, the project encourages environmental responsibility and offers a model for other mining operations across the globe.
Benedict Peters, known predominantly for his investments in the oil and gas sector through his Aiteo Group which operates a significant oil block in Nigeria, sees this project as a diversification into the renewable energy market. The project aligns with global shifts towards cleaner energy sources, positioning Bravura as an important player in the supply chain for essential materials needed for the energy transition.
With ongoing mining projects in Ghana, the Democratic Republic of the Congo, Zambia, Nigeria, Namibia, and South Africa, Bravura Holdings is a fully integrated corporation with a focus on gold, copper, lithium, and steel.
