Bravura Holdings Ltd., under the ownership of Nigerian entrepreneur Benedict Peters, is poised to initiate production at a lithium project in Zimbabwe next year, as disclosed by a company representative.
Despite the current downturn in the price of the battery metal, Gbenga Ojo, Bravura’s group general manager, affirmed on Tuesday the company’s unwavering commitment to launching the Kamativi lithium tailings project by 2025, as reported by Bloomberg.
Africa boasts some of the world’s largest lithium reserves, with Zimbabwe, Namibia, Ghana, the Democratic Republic of Congo, and Mali notably abundant in this crucial resource.
Lithium stands as a fundamental raw material in the global energy transition, catering to the burgeoning demand in electric vehicle (EV) manufacturing, renewable energy storage, and various other applications.
However, lithium prices have plummeted approximately 80% from their peak during the 2022 boom due to oversupply. Nevertheless, Bravura’s strategic initiatives remain resilient in the face of these market dynamics.
“We maintain unwavering confidence,” remarked Ojo in Harare, Zimbabwe’s capital. “Even under current market conditions, we are steadfast in our project pursuits.”
Lithium Exploration in Africa
Africa is gradually emerging as a pivotal investment hub for stakeholders in the EV sector aiming to secure ample lithium reserves.
Active lithium mining and exploration ventures are burgeoning across various regions of the continent, including Namibia, Mali, Ghana, and the Democratic Republic of the Congo (DRC).
However, these endeavors, while promising, are still relatively modest compared to the proliferation of projects in the Americas, Australia, and Europe.
