Sinomine Seeks $764 Million to Expand Lithium and Copper Projects Across Africa and China
Chinese mining and battery materials company Sinomine Resource Group Co. is planning to raise up to 5.2 billion yuan (approximately $764 million) through a private placement to fund the expansion of its critical minerals portfolio in Africa and China.
According to a company filing released, the proceeds will be allocated to several key projects, including a lithium sulfate facility in Zimbabwe, the development of the Kitumba copper mine in Zambia, a cesium and rubidium project in China’s Jiangxi province, and general working capital support.
Sinomine is part of a broader wave of Chinese mining firms increasing investments across Africa to secure strategic minerals essential for the global energy transition, particularly lithium and copper, which are critical for electric vehicle batteries, energy storage systems, and renewable energy infrastructure.
The fundraising initiative comes as lithium and copper markets strengthen amid supply constraints and rising long-term demand expectations.
In Zimbabwe, Sinomine’s subsidiary Bikita Minerals Ltd. is advancing a $400 million lithium sulfate processing plant as the country seeks to expand domestic mineral beneficiation and reduce raw concentrate exports.
Zimbabwe has recently tightened export regulations on lithium concentrates to encourage local processing, although Bikita Minerals has received approval to resume exports while continuing development of its processing facility.
In Zambia, Sinomine is increasing investment in the Kitumba copper project to accelerate output growth.
The mine is expected to produce an average of around 38,000 tonnes of copper annually over a projected 15-year lifespan, according to the company.
The expansion reflects China’s continued strategic focus on securing long-term access to critical minerals through overseas investments, particularly in resource-rich African markets.
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