The Moti Group, led by Zunaid Moti, has been promoting a $1 billion lithium project in Zimbabwe called Pulserate Investments. They secured a major Chinese investor, Pei Zhenhua, who provided upfront cash payments and additional funds for exploration. However, internal recordings suggest that Moti executives privately believe the project is not valuable and that there is “just rock” in the claimed area. The exploration report from 2018 also indicated that the lithium deposits in the area were unlikely to be economically significant. Despite this, the Moti Group proceeded with the investment and even planned to secure a larger cash infusion by pre-selling future receipts to commodities giant Trafigura. The project gained media attention and was hailed as a game-changer for Zimbabwe. However, Bloomberg reported that the Chinese investor decided to reduce their investment and later denied any involvement in the project. The true extent of the project’s value is uncertain. The background of the project involves the discovery of lithium deposits in Zimbabwe, the involvement of Australian mining group Prospect Resources, and Moti’s acquisition of lithium claims. Overall, the project’s potential value remains in question.
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