Masvingo — Bikita Minerals Sinomine has secured US$500 million in funding for a transformative lithium beneficiation project that will see the mine begin producing lithium sulphate by the second quarter of 2027.

The development, set to cement Zimbabwe’s position as a key player in the global lithium battery market, will see the new processing plant rolled out in two phases.

The first phase, with an annual capacity of 60 000 tonnes of lithium sulphate, is scheduled for commissioning in the second quarter of 2027. The second phase, which will add a further 65 000 tonnes per year, is set for completion by the start of 2028 — bringing total annual output to 125 000 tonnes.

During a tour of the mine last week, Bikita Minerals Sinomine officials informed a delegation of senior Government officials led by Information, Publicity and Broadcasting Services Minister Dr Zhemu Soda that funding for the lithium sulphate venture had been secured.

Dr Soda was on a media tour of flagship and transformative projects across Masvingo that are driving the march towards an upper-middle-income economy by 2030.

The mine’s assistant general manager, Thomas Mufumi, disclosed that the company is targeting annual lithium sulphate production of 125 000 tonnes by 2028.

Minister Soda commended the mine for heeding the Second Republic’s call to invest in lithium beneficiation, noting that the Bikita-based mine had undergone major transformation in just a few years.

“When I last came here, many of the things we see today were not there,” said Minister Soda.

“What has happened over these past few years is truly encouraging. The mine now produces spodumene concentrate, a high-value mineral known as caesium, and petalite — all extracted from a hybrid processing plant built on site.”

Bikita Minerals’ parent company, Sinomine Resource Group, reported strong financial performance in the first quarter of 2026, posting a net profit attributable to shareholders of 507.7 million yuan (approximately US$70 million), a 276.7% surge year-on-year. This came despite a 10.4% decline in revenue to 1.38 billion yuan. The quarterly profit exceeded the company’s total earnings for the full year 2025.

Sinomine, which acquired Bikita Minerals in 2022, has invested over US$300 million in plant expansion and exploration since taking over operations.

The company’s Bikita mine has cumulative proven ore resources of 141 million tonnes, equivalent to 3.43 million tonnes of lithium carbonate equivalent.

Zimbabwe earned approximately US$571 million from lithium exports in 2025.