Huayou Cobalt basks in first Zim honour

CHINESE global giant, Zhejiang Huayou Cobalt (Huayou), says it is encouraged after winning the award for the Best Investment Deal at the Zimbabwe Annual Investors Forum, hosted by Zimbabwe Independent and PiggyBank Advisory last month.

e awards ceremony was attended by President Mnangagwa and the Chinese Ambassador to Zimbabwe, Guo Shaochun, as well as various government and industry stakeholders . is was Huayou’s first accolade in the country.

A company representative, Yu Long, expressed delight at the recognition.

“e award is an encouragement to us and it means more responsibility for us,” Yu said.

He thanked both governments of Zimbabwe and China, whose close relations have paved way for more Chinese investors, now constituting the majority bloc of foreign investors in the Southern African country.

“Zimbabwean and Chinese governments continue to give us more confidence and encouragement to do more for our countries and people,” Yu said.

Paul Chimbodza, a local investor who was instrumental in the discovery of lithium and incorporation of the Arcadia Lithium Project, was also honoured as Best Investment Icon at the Investor Forum in recognition of his role.

Since May, developments at Arcadia Lithium Project are apace, with construction activities now over 50% and set to be complete by December.

e company expects production in the first half of 2023. — Staff Writer.