Zimbabwe govt shuts down Chinese-owned Bikita Minerals

Zimbabwe govt shuts down Chinese-owned Bikita Minerals

Daily Current Affairs   /   Zimbabwe govt shuts down Chinese-owned Bikita Minerals

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Category : International Published on: May 25 2023

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  • Bikita Minerals, Zimbabwe's largest lithium mine, has been ordered to suspend operations after claims of Lithium looting by a local watchdog in May 2023.
  • Sinomine acquired Bikita Minerals which was previously controlled by German investors through African Minerals Ltd for US$180 million in January last year
  • Bikita Minerals holds 11 million tonnes of lithium, the world's largest-known deposit of the mineral.
  • Lithium, a crucial component in producing batteries for electric vehicles and renewable energy storage, has seen increased global demand in recent years.
  • Zimbabwe is a landlocked country located in southern Africa.
  • It gained independence from Britain in 1980 and became the Republic of Zimbabwe.
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