Indian Firm Commits US$100m to Zimbabwe Lithium in Bid for 40m Tonnes

Indian critical-minerals company Lohum is planning to invest US$100 million in Zimbabwe after securing rights to 10 lithium-bearing mining blocks estimated to contain between 30 million and 40 million tonnes of ore.

The investment marks a fresh entry by an Indian company into Zimbabwe’s rapidly expanding lithium industry, which has attracted billions of dollars in investment in recent years.

Lohum has secured 10 spodumene-bearing blocks covering about 1,100 hectares and began its Zimbabwe operations earlier this month, including its first shipment of lithium ore from the country.

The company plans to process the lithium material into lithium sulphate in Zimbabwe before sending it to India for further refining into lithium carbonate, a key material used in battery manufacturing.

For Zimbabwe, the proposed investment comes as the government seeks to move the country away from exporting raw minerals and towards greater local processing and beneficiation

Lohum founder and chief executive Rajat Verma said the company sees Zimbabwe as a long-term partner and intends to develop processing capacity locally rather than simply exporting ore.

“We are approaching Zimbabwe as a long-term partner, building processing capability locally rather than shipping ore out,” Verma said.

The company estimates that the mining assets could eventually support production equivalent to about 30,000 tonnes of lithium carbonate annually.

However, the 30 million to 40 million tonnes figure refers to the estimated lithium-bearing ore resource and should not be confused with the company’s annual production target.

Lohum is also seeking to raise about US$315 million over the next 12 to 18 months through a combination of equity and debt to support its wider expansion plans.

Verma previously described the company’s evolution beyond recycling and refining, saying: “We recycle, we refine, and now we own mines.”

Lohum’s investment gives India a foothold in a Zimbabwean lithium industry where Chinese companies have established a dominant presence.

Chinese companies including Zhejiang Huayou Cobalt, Sinomine Resource Group, Chengxin Lithium and Sichuan Yahua have invested approximately US$2 billion in Zimbabwe’s lithium sector since 2021, according to the report.

Zimbabwe supplied about 15% of China’s lithium-concentrate imports in 2025, exporting more than 1.1 million tonnes.

Huayou has also established a US$400 million lithium-sulphate processing plant in Zimbabwe, with an annual capacity of 50,000 tonnes. The facility produced Africa’s first export shipment of lithium sulphate in April.

Lohum’s entry therefore adds another international player to Zimbabwe’s critical-minerals industry while giving India a direct source of lithium for electric vehicles, energy-storage systems and consumer electronics.

The investment comes at a critical point for Zimbabwe’s lithium industry as the government pushes for more mineral beneficiation inside the country.

The government wants lithium producers to process concentrates locally, increasing the potential for jobs, export earnings and industrial development.

But limited processing capacity remains a challenge.

Lohum will consequently need to develop or secure adequate local processing infrastructure for its 10 mining blocks while navigating Zimbabwe’s evolving mineral-export regulations.

The US$100 million commitment could therefore become more significant than a conventional mining investment if Lohum succeeds in establishing an integrated supply chain linking Zimbabwean lithium production with Indian battery-materials manufacturing.

For Zimbabwe, the bigger question will be how much value from the country’s lithium resources can be retained locally as competition for critical minerals intensifies globally.

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