(Southern Africa) (3 minutes read)
Zimbabwe has banned all lithium exports on the plea that the government was reported to be losing 1.7 billion euros from exporting the mineral in the raw form yearly. The country is taking steps for processing and value adding to the raw minerals not only to up the export earnings but also to create a cushion for increasing employment in the country
Zimbabwe has banned all lithium exports on the plea that the government was reported to be losing 1.7 billion euros from exporting the mineral in the raw form yearly. The country is taking steps for processing and value adding to the raw minerals not only to up the export earnings but also to create a cushion for increasing employment in the country. The raw lithium when processed into batteries can fetch revenues several folds higher than the raw form.
Lithium is so valuable as a component of electronic batteries and used widely in cars, mobile phones and computers. The price of lithium, referred to as the white gold, has gone up by 1,100 percent in the past two years alone.
Zimbabwe has the largest quantum of lithium mineral resources in Africa and can cater to one-fifth of the world’s demand. The rare earth is found in countries like Australia and in some Latin American countries. Smaller quantity of minerals is mined in countries like Nigeria. But the quantum mined is way behind Zimbabwe, where the yearly mining output is pegged close to 15,000 tons.
The determination of the Zimbabwean government to become a battery producer can be successful only if it can acquire technical know-how and a joint venture partner, who has sufficient financial muscle power to invest. Such suitors can come only from China, the US or West European countries. The southern African country feels that it has allowed the multinational companies to exploit its mineral resources without creating a situation for such companies to set up processing and manufacturing units using the minerals as raw materials.
Read also:
https://trendsnafrica.com/zimbabwe-and-uganda-launch-satellite/
https://trendsnafrica.com/price-spiral-and-power-cuts-in-zimbabwe-affecting-civic-life/
The Zimbabwean Ministry of Mines and Mining Development is also determined to stop artisanal miners digging up lithium and smuggling the mineral across borders.
