Launch · Climate, Energy & Sustainability
LOHUM dispatches first lithium ore from Zimbabwe mines
By Startup Enthusiast ·
- Date
- Company
- LOHUM
- What it does
- Sustainable critical mineral producer and recycler
- Kind
- Launch
- Based in
- Noida
- Founded
- 2018
What they do
LOHUM is a sustainable critical mineral producer that recycles batteries and refines raw materials like lithium, cobalt, and nickel
What happened
It sent out the first shipment of lithium ore from its Zimbabwe mining assets, marking the first lithium operations by any Indian company globally
Why it matters
The company aims to produce roughly 30,000 tonnes of lithium carbonate each year within 2-3 years, with deposits valued at about $7 billion
The details
- LOHUM shipped the first batch of lithium ore from its mining sites in Matabeleland South Province, Zimbabwe.
- This makes LOHUM the first Indian company to begin lithium extraction anywhere in the world.
- The firm holds mining rights for 10 spodumene-bearing blocks spanning roughly 1,100 hectares.
- It can also acquire up to 90 more adjacent mining blocks if it chooses.
- Estimated spodumene ore deposits stand at 30-40 million tonnes, worth about $7 billion at current lithium carbonate prices.
- The first 10 blocks can yield roughly 300,000 tonnes of lithium carbonate over their lifetime.
- Mining has started with drilling and blasting, and the first ore extraction is planned soon.
The bigger picture
- India imports nearly 100% of its lithium-ion battery needs, with about 75% coming from China.
- India's lithium-ion battery import bill was about $3 billion by FY25 and could exceed $23 billion per year by FY30.
- The government's National Critical Mineral Mission has a budget of ₹34,300 crore and aims to acquire up to 50 overseas mining assets.
- Union minister G Kishan Reddy said India could meet its critical mineral demand locally within 3-4 years.
About the business
- LOHUM is a sustainable critical mineral producer that focuses on battery recycling and raw material refining.
- It also engages in battery repurposing.
- Its products include lithium, cobalt, nickel, platinum, and other rare earth metals.
- In September 2023, it became the first non-Chinese company to produce pure metallic lithium through recycling.
- The company was founded in 2018 and is headquartered in Noida.
What happens next
- LOHUM plans to set up a new lithium refinery in India to process material from Zimbabwe; the location is not yet finalised.
- It is building an integrated supply chain: mining and initial processing in Zimbabwe, then conversion to lithium carbonate in India.
- The company also plans to set up a cathode active material facility and could be its own customer for lithium carbonate.
- It is developing its own concentration capacity in Zimbabwe, but existing nearby facilities provide immediate processing options.
- LOHUM will focus on assets that can begin throughput within 1-2 years, not 10+ year projects, following a strategy of cheap acquisition, quick production, and local value addition.
Founders
- Rajat Verma, Founder & CEO
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