Red Rock Resources Plc, a natural resource development company with interests in gold and base metals has engaged sales agents in China with a view of initiating discussions on the sale of lithium ores.
The entity is an exploration company boasting gold exploration projects in Kenya, West Africa and Australia, copper/cobalt exploration in Congo, and lithium exploration in Zimbabwe.
On March 31 2022, the UK listed firm announced that it had completed the creation of African Lithium Resources (Pvt) Limited (ALR) in which it will hold 75 percent.
The other 15 percent will be held by an unnamed local partner.
In an update, the entity said key current tasks are the beckoning and procuring of environmental impact assessments for recently granted licence areas, establishment and testing of representative samples, procurement of crushing and beneficiation equipment, procuring of export licences, and establishment of sales channels.
“Discussion has begun with sales agents in China for sale of lithium ores, and a potential contract miner/partner has sent an experienced South African consultant geologist who from 10th to 14th August with ALR personnel conducted due diligence at ALR’s locations in Zimbabwe,” reads part of the update.
Chairman of Red Rock Resources, Andrew Bell said “Regulatory changes over recent months mean that we are focussed on sales to the export market, which realise higher prices but require some combination of selective mining and beneficiation.”
The firm announced that a geologist with 50 years experience of exploration, management, assaying and open pit and underground mining, largely in Zimbabwe, Mr Dirk Benade has been engaged as owner’s representative and a director of ALR.
A number of companies have lately been scouting for opportunities to acquire the commodity which has become highly sought-after globally, leading to a stampede of lithium investors in the country.
Zimbabwe holds some of the world’s largest reserves of hard-rock lithium, a vital mineral used in the production of clean energy technologies.
Several lithium projects are currently at various levels of implementation across the country, a positive trajectory inspired mainly by the bullish global lithium prices.
The traction in the lithium sector is likely going to contribute handsomely to the fiscus if exploited on a win-win basis.
Zimbabwe is earmarked to realise US$500 million from lithium mining activities this year as the country seeks to grow mining to a US $12 billion industry this year. – The Chronicle
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