Prospect Resources handed mining lease for Zimbabwe lithium project

ASX-listed miner Prospect Resources has been granted a mining license by the Mining Affairs Board of Zimbabwe covering its flagship Arcadia Lithium Project.

The lease covers an area of 1,031 hectares encompassing some 57 mining claims owned by Prospect Lithium Zimbabwe, who told shareholders that the purpose of the lease is to amalgamate contiguous mining claims under one license.

The ASX statement went on to say that a mining lease is a perpetual license, renewed annually under provisions of the Mines and Minerals Act of Zimbabwe.

Prospect’s executive director Harry Greaves recently told RGN that the company is witnessing extraordinary levels of cooperation between them and the Zimbabwean government.

“In all my experience of mining in Zimbabwe for 20 years, I’ve never seen a situation where the entire hierarchy of the ministry of mines are available at any time to take a call,” said Greaves.

The Arcadia project, located on the outskirts of capital city Harare, is Africa’s 2nd largest JORC compliant hard rock lithium resource at 72.7 million tonnes after continuous drilling programmes boosted the resource estimate over 2017.

@RGNonline