Afroreef International Expands Its Portfolio with Groundbreaking Lithium Mine and Processing Plant in Zimbabwe

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Afroreef International Expands Its Portfolio with Groundbreaking Lithium Mine and Processing Plant in Zimbabwe

Afroreef's USD 100 million Lithium Project in Zimbabwe

Afroreef’s USD 100 million Lithium Project in Zimbabwe

HARARE, ZIMBABWE, May 17, 2023/EINPresswire.com/ — Afroreef International, a leading Pan-African diversified investment company, is proud to announce its latest venture that will revolutionize Zimbabwe’s mining industry and contribute to the global demand for lithium. This ambitious project involves the establishment of a state-of-the-art lithium mine and a one-of-a-kind lithium processing plant, marking a significant milestone for both Afroreef and the local economy.

The decision to open the lithium mine and processing plant in Zimbabwe was driven by the country’s abundant lithium reserves and the increasing global demand for this vital mineral. The project entails a substantial investment of USD 100 million, reflecting Afroreef’s commitment to harnessing Africa’s natural resources and promoting sustainable development.

Notably, this initiative will have a profound social impact on the community. The establishment of the lithium mine and processing plant will generate an estimated 600 job opportunities, providing a boost to employment and livelihoods in the region. Additionally, Afroreef International is dedicated to prioritizing the local workforce, ensuring skills development and empowerment of the community members.

Furthermore, the project’s ripple effect will extend beyond job creation. Afroreef International recognizes the importance of infrastructure development in supporting sustainable growth. As part of their corporate social responsibility, the company will invest USD 10 million towards community infrastructure projects, including roads, schools, healthcare facilities, and access to clean water and electricity. These efforts will enhance the overall quality of life and contribute to the long-term development of the local community.

Lithium, a critical component in the production of batteries for electric vehicles and renewable energy storage, has seen a tremendous surge in demand in the international market. Afroreef’s foray into lithium mining and processing positions Zimbabwe as a key player in meeting this soaring global demand. This strategic move not only strengthens the nation’s position in the international market but also stimulates economic growth and attracts further investment opportunities.

Speaking about the project, Simon Magama the Founder & Chairman of Afroreef International stated, “We are thrilled to embark on this groundbreaking venture in Zimbabwe. Afroreef International is committed to sustainable development and creating value for all stakeholders involved. By tapping into Zimbabwe’s lithium reserves and establishing a cutting-edge processing plant, we aim to contribute to the international lithium supply chain while making a lasting positive impact on the local community.”

With the establishment of the lithium mine and processing plant, Afroreef International solidifies its position as a leader in strategic proprietary investments throughout Africa. This project exemplifies the company’s dedication to fostering economic growth, promoting job creation, and driving infrastructure development.

For more information about Afroreef International and its groundbreaking lithium mine and processing plant project, please visit www.afroreefinternational.com

Cliff Nhemachena
Afroreef International
+27 62 460 7763
cliff@lunio.co.za
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May 17, 2023, 07:51 GMT

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