HARARE, Jul. 22 (NewsDay Live) – Mutapa Energy Resources says it has certified a 39.9-million-tonne lithium resource at its Sandawana project, marking a major milestone that it believes will unlock international financing and position Zimbabwe more strongly in the global battery minerals market.
The State-owned mining company said an independent geological assessment conducted under internationally recognised reporting standards confirmed the resource, making the project “bankable” — a key requirement for attracting global mining investors and lenders.
The certified resource covers only Block A, about 30% of Mutapa’s 3,800-hectare mining concession, leaving significant exploration potential across the remaining claims.
“This means we have a resource that has been confirmed by a competent person. It becomes bankable,” Mutapa Energy Resources chief executive Innocent Rukweza said.
The announcement comes as global demand for lithium, a critical mineral used in electric vehicle batteries, energy storage systems and renewable energy technologies, continues to drive competition among mining jurisdictions seeking investment.
Mutapa said the first phase of exploration involved an 11-month drilling programme covering 103,000 metres and the collection and analysis of 33,000 samples at a cost of US$24 million.
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The programme confirmed a 39.9-million-tonne lithium resource, of which 28.7 million tonnes have been classified as measured resources, representing about 72% of the total resource.
“It is my singular honour to announce that, to the best of our knowledge, we are the first Zimbabwean mine with measured resources constituting 72% of our total resource,” Rukweza said.
He said the high proportion of measured resources gives investors greater confidence in the quality and reliability of the deposit.
The company has already mined about two million tonnes of ore from the project and is constructing a three-million-tonne-per-year concentrator plant as it prepares for large-scale production.
Supporting infrastructure includes road construction, the relocation of 104 families, and the development of essential public facilities, including a school and clinic.
Mutapa plans to invest a further US$6 million in a second exploration phase involving 23,500 metres of drilling and about 8,500 samples.
A third phase, budgeted at US$12 million, will include 70,000 metres of drilling and more than 30,000 additional samples.
The company aims to increase the resource from nearly 40 million tonnes to as much as 90 million tonnes, with Blocks B and C — which account for roughly 70% of the Sandawana claims — still largely unexplored.
Geochemical and geophysical surveys are expected to begin on those areas to determine the next phase of exploration.
Beyond lithium, Mutapa said Sandawana also hosts commercially significant deposits of tantalum and niobium, two strategic minerals used in advanced electronics and industrial manufacturing.
The announcement comes as Zimbabwe seeks to attract greater investment into its mining sector while moving beyond raw mineral exports and expanding domestic value addition.
Industry analysts say projects with independently verified resources, defined development plans and processing capacity are better positioned to secure financing despite volatility in global lithium prices.
While the certified resource strengthens Sandawana’s investment case, the project’s long-term success will depend on securing capital, completing processing infrastructure and navigating fluctuating global lithium markets.