Lithium

Springbok: Lithium Africa receives two financing offers, including $60 million

Lithium Africa has received two non-binding proposals to finance development of Springbok, its lithium project in South Africa’s Northern Cape. One combines prepayment with purchasing all spodumene concentrate produced during the first three years. The other envisages a $60 million investment by a lithium processing group backed by a Fortune Global 500 company, in exchange for 55% of Lithium Africa’s interest in the project.

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Namibia: Windhoek seeks to require local mineral processing

Namibia wants to change the relationship between mining investors and national resources. President Netumbo Nandi-Ndaitwah is calling on foreign companies to build processing and manufacturing facilities in the country, so minerals are no longer exported raw before being bought back as processed products. The direction is clear: access to subsurface resources must contribute more to industrialization, employment and local skills.

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