Global-Tech Green Energy & Minerals Limited Confirm Expansion of Their Bikita Project in Zimbabwe
Global-Tech Green Energy & Minerals Limited have recently announced that they will be expanding their lithium mining project at their Bikita project in Zimbabwe.
Following nearly 1 year of feasibility studies and environmental impact assessments the company have now received all the relevant government approvals and licenses for the expansion to commence with immediate effect.
Global-Tech Green Energy & Minerals Limited first acquired this site, which is one of 4 the company operate in the country, in 2017 and with this planned expansion is set to become their largest.
Charlton Holmes, Chief Executive Officer with Global-Tech Green Energy & Minerals Limited said, "One of the most promising aspects of the expansion of the Bikita project is the increased annual lithium production that the site can now produce with significantly less set-up costs due to it already being a working site."
The expansion has an indicated reserve of nearly 500 metric tonnes which will take the company's annual production of over 2,000 metric tonnes.
Global-Tech Green Energy & Minerals Limited believes it can outline further reserves once they start production on the fully extended area.
The increased production facilities at the Bikita project will be fully funded from available cash and cash flow.
"This project remains critically important to Global-Tech's long-term production profile and is the first of many site expansions that we are currently considering," Charlton Holmes added.