Zimbabwe to host new lithium carbonate plant

Published: 8 hours ago

China's Zhejiang Huayou Cobalt Ltd. is planning to establish a lithium carbonate processing plant in Zimbabwe, marking a significant step in the country's efforts to move up the value chain in its fast-growing battery minerals sector.

The development was confirmed by Mines and Mining Development Minister Polite Kambamura, who said the project aligns with government policy requiring foreign mining investors to expand local beneficiation capacity.

"They will be producing lithium carbonate, which is more valued," Kambamura told reporters in Harare. "So we look forward to firming up of metal prices globally, and also to increase our export revenues."

Zimbabwe has in recent years emerged as a key global supplier of lithium feedstock, largely driven by increased investment from Chinese mining companies. However, authorities have been pressing investors to process minerals locally rather than exporting raw ore.

The proposed plant by Zhejiang Huayou Cobalt Ltd. is expected to convert lithium ore into lithium carbonate, a higher-value product widely used in the production of electric vehicle batteries and energy storage systems.

Zimbabwe accounted for roughly 10% of global mined lithium output last year, according to the US Geological Survey, underscoring its growing importance in the global critical minerals supply chain.

Minister Kambamura said the mining sector is projected to generate up to US$7 billion in revenue this year, compared to about US$2 billion recorded in the first half of the year, driven largely by gold and increasing output from key minerals such as lithium.

"We are looking forward to this being anchored by the export receipts from minerals such as gold," he said.

The planned investment is expected to strengthen Zimbabwe's ambitions to position itself as a regional hub for lithium processing, as global demand for battery minerals continues to rise amid the transition to cleaner energy technologies.
- Bloomberg

Tags: Lithium,