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Africa is emerging as a pivotal supplier of this crucial metal, which is vital for the green transition and Namibia is one of the top five African countries ready to capitalise on the impending lithium boom. The new survey has shown Namibia stands fourth after Zimbabwe, Mali, and the Democratic Republic of Congo.
Africa is emerging as a pivotal supplier of this crucial metal, which is vital for the green transition and Namibia is one of the top five African countries ready to capitalise on the impending lithium boom. The new survey has shown Namibia stands fourth after Zimbabwe, Mali, and the Democratic Republic of Congo. The global push for greener energy sources and net-zero objectives set by governments has led to an increased demand for battery metals like lithium, utilised in the production of batteries for items ranging from laptops to electric cars.
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Lithium reserves are distributed across Africa and are topped by Congo (Kinshasa) with 3 million tonnes, followed by Mali with 840,000 tonnes, Zimbabwe with 690,000 tonnes, Namibia with 230,000 tonnes, and Ghana with 180,000 tonnes. According to the U.S. Geological Survey’s Mineral Commodity Summaries for 2023, the world has witnessed a substantial increase in identified lithium resources, amounting to about 98 million tonnes.12 million tonnes are from continental brines, claystone, geothermal brines, hectorite, oilfield brines, and pegmatites. Other countries account for the remaining 86 million tonnes.
S&P Global Commodity Insights projects a more than 30-fold increase in lithium production across the continent by 2027 compared to last year’s volume. Africa’s export of lithium raw materials is projected to surge from 1% in 2022 to 12% of the global supply within around four years. Mali, the Democratic Republic of Congo, and Zimbabwe are expected to be the leading lithium suppliers on the continent.
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This trend aligns with the growing demand for lithium, projected to skyrocket by 2025, with an estimated value of N$13.9 billion in Namibia. This development can significantly boost Namibia’s export earnings and revenue, as indicated by a local research firm. The recent projections suggest that in the most optimistic scenario, lithium could contribute N$4.6 billion to the government’s revenue, and in the conservative scenario, N$1.7 billion. The lithium industry in Namibia report by the same firm underscores that the revenue generated by the local lithium sector could outpace all other commodity mining operations in the country.
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While the revival of lithium production in Namibia is anticipated to have a positive impact on the economy, particularly in terms of export earnings and government revenue, its potential to substantially impact socioeconomic indicators like employment is considered limited due to the capital-intensive nature of mining.
