PERTH (miningweekly.com) – ASX-listed Prospect Resources has officially broken ground at the Arcadia lithium project, in Zimbabwe.
A 2017 prefeasibility study estimated that the project could produce 75 000 t/y of spodumene concentrate, ramping up to 123 000 t/y and 155 000 t/y petalite concentrates and 88 000 t/y tantalite concentrates over the life of the mine.
The project is estimated to have a 15-year mine life, and would cost an estimated $52.5-million to develop.
Prospect executive chairperson Hugh Warner on Monday said that the company was working to secure project financing from international investors and lenders.
“As Prospect reaches out to the international investment community to finance Arcadia, we are also working closely with the government of Zimbabwe to provide confidence of fiscal stability to Prospect, our investors and indeed the people of Zimbabwe,” said Warner.