Kuvimba Mining Company is considering a VFEX listing.

Kuvimba Mining House (KMH), the biggest mining group in Zimbabwe, is looking to go public on the Victoria Falls Stock Exchange so that its shareholders may access the company’s expected valuation of $2.5 billion to $3.5 billion once it is fully operational.

The bourse operates as a wholly owned subsidiary of the ZSE with the goal of launching the Offshore Financial Services Centre (OFSC) in the Victoria Falls SEZ.

It’s meant to enable businesses to obtain funds in foreign currency and attract global capital as part of attempts to restore international investor trust in Zimbabwe’s capital markets.

Companies in the mining, real estate, banking, and hospitality industries are all represented on the stock exchange.

Group CEO Mr. Simbarashe Chinyemba said at the first Lithium and Battery Conference, which was being hosted in conjunction with Mine Entra in Bulawayo.

Increasing shareholder value is a top priority; hence, we’re looking at listing Sandawana on the VFEX. Mr. Chinyemba said that preparations were already underway to explore the many tools that would serve as guides throughout the listing process.

Those in attendance at the lithium conference were tasked with discussing “Powering Zimbabwe’s Future: Exploring Opportunities and Challenges for Sustainable Development in the Lithium and Battery Mineral Industry.”

The mining firm has allocated US$30 million for exploration, including the next round of lithium exploration at Sandawana.

A major contributor to the national goal of a US$12 billion mining economy by the end of the year, Sandawana Mine sits atop the country’s greatest lithium ore deposits, estimated at roughly 200 million metric tons.

When it comes to lithium production, Zimbabwe is among the most significant in Africa. The country has the world’s sixth-largest deposits.

KMH, which acquired the Sandawana mine in 2019, is reviving the asset as a lithium and tantalite business with a history dating back to 1955, when emeralds were initially taken from the mine.

The lithium mineral resources and reserves are currently being determined via a four-stage comprehensive exploration program.

Other mineral deposits, including beryllium, tantalite, and gold, are also part of the exploration effort. There are currently 33 drilling rigs on the site, and three exploration companies working under the direction of an international organization are conducting an expedited exploration program.

In January of 2023, miners began extracting lithium from an open pit.Sandawana Mine has extracted and stored nearly 600,000 tons of high-grade lithium ore, with a total market value of nearly $216 million. The mine also has a big, cutting-edge laboratory.

At the same event, Sandawana’s general manager, Mr. Godwin Gambiza, praised Zimbabwe’s investment potential, noting that the country’s lithium industry is still in its expansion phase.

He argued that making a move into the industry at this time was prudent. Mr. Gambiza pointed out that it is possible to profitably invest in infrastructure both upstream and downstream of an industry.


Mr. Gambiza said that although the industry is profitable, it is difficult to get long-term investment in the local market. The answer, he argued, is to form alliances in order to attract international funding.

We are delighted by the government’s decision to extend the multi-currency system until 2030, despite the fact that securing long-term finance is presently challenging. We’re crossing our fingers for sustainable financing.

He went on to say, “Working with experts in the field, such as China, will aid in skills knowledge transfer,” noting that the sector is “relatively new” and “there are skills shortages.”

The company said recently that it had extracted and stored over 600,000 metric tons of high-grade lithium ore worth over US$216 million, beginning operations in an open pit in January. The mine also has a big, cutting-edge laboratory.

After the first phase of road network rehabilitation is complete, the selected lithium off-takers will produce roughly US$700 million in revenue over the next 18 months.

A new 35-kilometer road will be built, while over 115 kilometers of existing roads will be rehabilitated and asphalt surfaced as part of Sandawana Mine’s expansion plans.

The mining industry in Zimbabwe is flourishing thanks to lithium, a material in high demand as the production of lithium-ion batteries increases throughout the globe. Zimbabwe has one of the greatest reserves in Africa of the favored hard rock deposits, making it an ideal location for mining.

Lithium has been a widely sought-after mineral around the globe since the automobile industry is transitioning towards electric vehicles that, among other assets, require lithium-ion batteries.

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