Prospect eyes positioning Zim on world map

PROSPECT Lithium Zimbabwe has set sights on positioning the country on the world map of renewable energy and technology value chains while striving to sustain a good corporate citizenry status locally.

Prospect, which celebrated its first anniversary last Friday marked the celebrations with the inaugural shipment of concentrate from its project in Goromonzi district, Mashonaland East province.

The lithium project was established following the conclusion of a US$377,8 million upfront cash consideration last year under a share sale agreement from Prospect Resources by China’s Huayou International Mining for 87 percent stake in PLZ.

Speaking during the company’s 1st Anniversary celebrations recently, Prospect chairman Mr George Fang commended the Government for the facilitation it has provided for the company’s investment in Zimbabwe.

“We were inspired by the clarion call that, ‘Zimbabwe is open for business’ and the vision and strategic plans of authorities to allow capital to thrive for the benefit of the economy and attainment of Upper middle-income status by 2030.

“We are delighted that our own modest investment will help the Government and people of Zimbabwe to realise their development aspirations,” he said.

“As an investor and corporate citizen, we are ready to join hands with you all in building this great country for the benefit of its wonderful people and posterity.

“Our investment in Zimbabwe thrusts the country on the global map of renewable energy and technology value chains.”

Prospect’s one-year milestone coincides with the conclusion of the construction work of the lithium plant.

Fang said as a member of the global Huayou family, they are keenly aware of the mission of becoming a market leader and fit within the overall philosophy and ethics of the company.

“Our community is important to us. . . as such we shall constantly strive to build sound and mutually beneficial relations with our community and stakeholders.

“In that same vein, we shall also strive to become a good custodian of our environment and ensure a sustainable and green operation.”

Over the past year, Fang said they have been striving to contribute to the local economy and society, even before Prospect started operations.

At inception, Prospect called on local communities to take up employment opportunities and such prioritisation resulted in hundreds of people being employed from local villages and wards in Goromonzi district.

Against this backdrop, more people with varying skills came from all over Zimbabwe with the project employing about 1000 people during the construction stage while hundreds others are set to be employed when production goes full scale.

“As part of our community-driven initiatives we have invested in education, health, water, security and road infrastructure.

“We are proud that we have transformed Vhuta Primary School, our nearest neighbour, through the building of new classroom blocks and teachers’ houses.

“We have furnished other schools and provided learning materials,” he said.

The lithium producer has also sunk boreholes for the community and upgraded roads to the benefit of the local agriculture and mining economy.

Huayou was founded in 2002 and over the past two decades it has become a multinational corporation with a revenue base of more than US$48 billion and market value of more than US$100 billion, ranking among the top 500 enterprises in China.

The global giant investor consists of an integrated industrial structure consisting of resource, smelting, material recycling, and constructed an operation of overseas resources, domestic manufacturing and global manufacturing.

Huayou has over the years become a leading enterprise in the global cobalt industry and new energy lithium-ion industry.

“We are happy that as Prospect Lithium Zimbabwe we carry the spirit and values of Huayou. We are proud of our origins and our place in the world, hence the motto, ‘Rooted in China, making friends everywhere’.

“Further, and more fundamentally, we are proud to become part of the communities that we operate in, as we become one with the people and environment,” said Mr Fang.

-ebusinessweekly