Volkswagen buys 9.9% of Patriot Battery Metals for $48 million
Patriot's project will supply lithium to Volkswagen’s battery company PowerCo in Europe and North America.
Reuters reports Zimbabwe could take over mines that fall short of laws requiring them to sell majority stakes to locals by September, a government minister said on Wednesday.
Mineral-rich Zimbabwe has the world’s second largest known platinum reserves after neighbouring South Africa and foreign miners working there include Zimplats Holdings, a unit of Impala Platinum, global mining giant Rio Tinto, and Anglo Platinum.
Kasukuwere has previously told Reuters that Zimbabwe’s cash-strapped government would not pay any money for the mining stakes but would base any payment negotiations on the state’s ownership of the country’s untapped mineral wealth.
