Lithium project to earn Zim $3bn
The company expects to rack in nearly $3 billion in exports earnings over course of the mine’s life from an investment of $165 million and also achieve payback in period of 2,5 years. Based on the proposed 2,4 million tonnes per annum mining and processing operation, the DFS indicates that Arcadia will be a strong financial, high margin project with current forecast Life Of Mine (LOM) revenue of US$2,93 billion and average annual EBITDA of US$106 million over an estimated 12-year mine life.
ASX-listed Prospect Resources says the “successful DFS provides a compelling basis for the company to drive towards completing additional project off-take arrangements (in addition to its existing off-take agreement with Sinomine), and securing project financing in anticipation of construction”.
Construction and mine development, to be managed by its 87 percent owned unit Prospect Lithium Zimbabwe (PLZ), is scheduled to be completed in the third quarter of 2020, with commissioning from November 2020.
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