The Zimbabwean government has signed an agreement with Chinese private company Qingshan to establish lithium mining and processing business in the country. Aoyama is one of the largest nickel producers in the world, and is currently building a factory worth 1 billion dollars in Zimbabwe.

The company also has coking coal business and ferrochrome smelting plant in Zimbabwe, which is said to have large-scale hard rock lithium reserves. The current agreement will enable Aoyam to increase its stainless steel and coke production to 5 million tons per year.

Zimbabwe President Emmerson Mnangagwa said that Aoyama Holding Group would expand its current business. This will enable the company to start producing cement and lithium concentrate, and expand the production of coke and ferrochrome in other mining and mineral processing projects in Zimbabwe.

Aoyama will also help Zimbabwe renovate its railway system, which has been poorly maintained and underinvested for many years. Qingshan invested in Zimbabwe's lithium industry. Previously, Chinese companies Zhejiang Huayou Cobalt, Sinomine Lithium and Chengxin Lithium recently acquired lithium assets.

In August 2021, Fortescue Metals cooperated with Aoyama to build a metal smelting industrial zone worth billions of dollars in Borneo Island, Indonesia.

The metal smelting plant is planned to be built near the hydropower station, and the smelting of iron, nickel and copper ores will be carried out as early as 2023. Qingshan is expected to invest 30 billion dollars, and Fortescue Metals will invest 12 billion dollars in the project.Editor/XingWentao