Nyanza Light Metals CEO: $860mn needed for titanium pigment project

Nyanza Light Metals CEO, Donovan Chimhandamba, unveiled the company's ambitious plans for a groundbreaking titanium pigment project in Africa, aiming to revolutionize the mineral beneficiation industry on the continent. Speaking with CNBC Africa's Godfrey Mutizwa at the Africa Investment Forum in Rabat, Morocco, Chimhandamba detailed the project's goal to bridge the gap between raw mineral extraction and value-added products in Africa, particularly focusing on South Africa's abundance of titanium minerals. The project, which requires a substantial $860 million in funding, is poised to transform the way mineral resources are utilized in Africa. Chimhandamba emphasized the significance of the project in industrializing the African continent by bringing value closer to raw minerals. He highlighted the lack of value addition currently being done in Africa, stating that the project aims to address this issue by establishing a titanium minerals beneficiation and value addition industry. Beyond the titanium pigment project, Nyanza Light Metals is strategically planning for the future with a broader vision that includes the construction of a lithium ion phosphate plant. This long-term strategy is designed to not only advance the titanium pigment project but also to pave the way for further industrial projects in Africa. Chimhandamba explained that while the initial focus is on the titanium pigment project, the company's platform strategy involves laying the groundwork for additional investments in the battery minerals value chain. By diversifying their portfolio and expanding into related industries, Nyanza Light Metals aims to create a sustainable and robust industrial ecosystem in Africa. The CEO shared insights into the project's financing and progress, noting that construction began in August with the backing of the South African government in the Richards Bay Industrial Development Zone. The company is currently finalizing the financial package for the plant erection, with plans to commence construction in the second or third quarter of the following year. Looking ahead, Chimhandamba projected production to commence by the end of 2027 or early 2028, marking a significant milestone for Africa's industrial landscape. The project is expected to not only boost economic development but also create quality jobs and reduce the export-import value gap prevalent in the region. The titanium pigment project represents a pivotal opportunity for Africa to capitalize on its rich mineral resources and unlock its industrial potential. By leveraging innovative strategies and sustainable practices, Nyanza Light Metals aims to catalyze a new wave of industrialization on the continent, setting the stage for a brighter economic future for Africa. In conclusion, Donovan Chimhandamba reiterated the importance of the project in industrializing Africa and emphasized the long-term vision of bringing value closer to raw minerals. The strategic significance of the project lies in its potential to catalyze further industrial endeavors in Africa, marking a transformative step towards sustainable economic growth and development.