Zimbabwe approves $2.8 billion Chinese mineral complex

The Zimbabwean government has approved an offer from a group of Chinese investors to build a $2.83 billion battery-making metal complex to process minerals including lithium, platinum and nickel, the latest move to revive its battered economy.

Hong Kong Eagle International Investment Holding and Pacific Goal Investment will develop an integrated industrial complex that includes lithium, salt and nickel sulfate plants and a nickel-chromium alloy smelter, Eagle International said. In documents reviewed by Bloomberg, they were verified by Minister of Mines Pvungwa Konaka. Deputy Mining Minister Polit Kambamora clarified that the agreement on the plan would be signed later Friday.