SMM

On November 29, Zimbabwe Finance Minister Mthuli Ncube announced a directive for lithium miners to submit plans for local production of battery-grade lithium by March 2024.
Ncube stated that the government does not regard any process which “does not result in the production of lithium carbonate” as beneficiation, and no new licenses would be granted to prospective lithium miners without approved beneficiation plans.
This move follows the country’s ban on the export of lithium ore and the imposition of a 5% export tax on concentrates. Lithium has emerged as Zimbabwe’s third-largest mineral export. Chinese miners such as Huayou Cobalt and Canmax have made over $1 billion in Zimbabwe’s hard-rock lithium reserves, although stability challenges on energy and other key inputs persist.