KEY POINTS
- Vardhaan and Microlight have partnered to explore and mine lithium in Zimbabwe.
- The project includes plans for battery assembly and electric vehicle production.
- Zimbabwe aims to become a key player in the global lithium industry.
An Indian mining company, Vardhaan, has teamed up with Zimbabwe’s Microlight Mineral Resources to explore and develop lithium reserves in Bikita, Masvingo province.
The partnership, formalized through a Special Purpose Vehicle (SPV) known as Avani Microlight, marks a significant step in Zimbabwe’s push to expand its role in the global lithium supply chain.
The investment was announced after company representatives met with President Emmerson Mnangagwa at State House in Harare on Thursday.
The delegation, led by Vardhaan’s Chairman Sunil Joshi and Managing Director Vedansh Joshi, expressed their commitment to supporting Zimbabwe’s mining industry.
Speaking after the closed-door meeting, Microlight Mineral Resources Vice Chairman Martin Matoi confirmed that the companies had already secured land for their operations.
According to ZBC News, the project is expected to cover lithium exploration, mining, beneficiation, and processing, with long-term plans to expand into electric vehicle (EV) manufacturing.
Plans for a lithium battery and EV plant in Zimbabwe
The partnership between Vardhaan and Microlight extends beyond lithium extraction. According to Matoi, the goal is to develop a local battery assembly plant in Bikita, laying the groundwork for an electric vehicle manufacturing facility in the same area.
“The two companies have joined an SPV known as Avani Microlight to handle exploration, mining, value addition, and beneficiation in Bikita,” said Matoi.
“The ultimate goal is to establish a battery assembly plant and, later, an electric vehicle manufacturing plant in the same area.”
The critical nature of lithium for battery technology makes the investment relevant to the worldwide trends of renewable energy and electric mobility developments.
As a country with notable lithium deposits, Zimbabwe works to build a position within the worldwide EV supply chain network.
Zimbabwe’s lithium industry gains momentum
Zimbabwe has been attracting growing interest from international investors looking to tap into its lithium-rich deposits.
The government encourages foreign partnerships that emphasize value addition and local beneficiation. This approach ensures companies process raw materials locally instead of simply exporting them. It creates jobs and boosts the economy.
The joint venture between Vardhaan and Microlight follows a broader trend of increased foreign investment in Zimbabwe’s mining sector.
The country has actively sought partnerships to help it transition from being a raw material exporter to a technology-driven economy.
As the Avani Microlight project moves forward, all eyes will be on how this initiative transforms Zimbabwe’s role in the global lithium market and whether it can lay the foundation for a domestic electric vehicle industry.
