Excerpts from Sunday Mail (Zim) 4/2/24 Tapiwanashe...

Excerpts from Sunday Mail (Zim) 4/2/24 Tapiwanashe Mangwiro
AUSTRALIAN firm Prospect Resources is maintaining a long-term view on its investments in Zimbabwe, despite the plunge in international lithium prices last year due to market oversupply and less-than-expected demand in key markets.
Prospect said the result effectively derisked the proposed Phase 4 drilling of the WinBin deposit further south of the original discovery hole cluster, by confirming high lithium grades and spodumene mineralisation exists.
Managing director Sam Hosack has, thus, maintained a positive long-term outlook for lithium, despite the current lull in prices on the international markets.
Writing on his social media account X, he stated: “Despite the recent pullback in lithium, @ProspectResLtd strongly believes the long-term fundamentals of the battery sector are strong and will stay the path. We continue business development activities in other electrification commodities, with the current focus on copper and rare earths.”
Prospect Resources will, thus, extend its focus beyond lithium. The decision to explore opportunities in copper and rare earths reflects a pragmatic approach to navigating the fluctuations in the battery metals market.
While the current state of lithium might present challenges, Prospect Resources remains steadfast in its commitment to the long-term potential of the battery sector, energised by the success achieved with the Arcadia project near Harare.