Zimbabwe lithium miners want royalties to be linked to prices
The battery metal has slumped from a peak in late 2022 amid oversupply and weak demand from the electric vehicle sector.
Ivanhoe Mines has signed an agreement with the Democratic Republic of Congo’s state mining company Gecamines to bring the Kipushi zinc mine back into commercial production, the Canada-listed miner said on Monday.
Kipushi will have an average grade of 36.4% zinc over the first five years of production, Ivanhoe said.
The deal, signed by Ivanhoe’s fully-owned subsidiary Kipushi Holding, sets out commercial terms towards a new joint-venture agreement, and is subject to execution of definitive documentation, Ivanhoe said.
(By Helen Reid; Editing by Jason Neely)
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