Australian miner Prospect Resources just wrapped up offloading its Step Aside Lithium Project in Zimbabwe for 2.2 million bucks to a private outfit called Fatima Resources. The deal gets them 850k upfront with another 150k coming in six months, plus potential bonus cash up to 1.2 million if the new owners hit certain targets within two years. Step Aside sits about 8 kilometers north of the Arcadia Lithium Mine that Prospect already sold off to Chinese battery giant Zhejiang Huayou Cobalt back in 2022.
This sale wraps up Prospect's exit from Zimbabwe after lithium prices tanked hard globally. Managing director Sam Hosack said the company is pumped to get some immediate cash return while keeping options open for future upside if exploration goes well at the site. The miner is shifting all its energy toward copper exploration at the Mumbezhi project over in Zambia instead.
This sale wraps up Prospect's exit from Zimbabwe after lithium prices tanked hard globally. Managing director Sam Hosack said the company is pumped to get some immediate cash return while keeping options open for future upside if exploration goes well at the site. The miner is shifting all its energy toward copper exploration at the Mumbezhi project over in Zambia instead.
