Lithium is a critical raw material (CRM) necessary for the transition to a green economy, with applicable uses in lithium ion batteries which are commonly utilized in EV manufacturing as well as in electric devices or alongside solar panels to store excess solar energy. Efforts to diversify lithium sources will attract foreign investment into Africa in the coming years as major economies look to secure lithium for their battery supply chains. Africa expect mining firms to broaden exploration activities to Africa in countries such as Zimbabwe, Namibia, Mali, Ghana and the Democratic Republic of Congo (DRC). This includes all African countries with known reserves, those which are current lithium producers, such as Zimbabwe and Namibia as well as those with ongoing lithium developments.
Hudson Mining Ltd expect to see an increase in Lithium development projects in Africa, amid our outlook for a sustained recovery in prices.
The discovery of spodumene during our current exploration programme is an exciting development that highlights the significant potential of our license areas in Africa and provides a promising target for operations within its major mining activity region Nigeria.
What concerning the lithium discover in Nigeria?
The primary and most essential level is that the invention doesn’t equate to an industrial discover. In actual fact, it must be taken solely as a primary step within the lengthy journey to be established as a commercially viable deposit that may be mined and extracted to a kind that may be offered to the buyer.
In actuality just one or two of lots of of such ‘discoveries’ (finds) could find yourself being a mine after going by way of the various levels of exploration and improvement. Solely then can a worth be connected to such a 'discovery’.
It could possibly take 5-10 years to completely discover a small to medium-sized deposit and take it to manufacturing. That is supplied there aren’t any unexpected technical, monetary and different challenges.
Solely in few very distinctive and extremely viable conditions we will count on a lesser timeframe.
Fairly quite a lot of components could make or mar the event journey. These embody proving financial grades and volumes (or tonnages) of the mineral ores, beneficial enabling fiscal and different regulatory environments, price of extraction expertise, market forces and different logistical and sociopolitical points.
We are delighted by this new discovery, which reaffirms our development goals and supports the overall strategy of building a diverse portfolio of minor metals.