Zimbabwe earned $209 million from lithium exports in the first nine months of 2023, nearly treble last year’s earnings, Mines Minister Zhemu Soda said on Wednesday, as Chinese-driven mining and processing projects take off.
Lithium is set to become Zimbabwe’s third biggest mineral export after gold and platinum group metals, which registered $2.46 billion and $2.27 billion in export receipts last year. Chinese firms, including Zhejiang Huayou Cobalt, Sinomine Resource Group, Chengxin Lithium Group, Yahua Group and Canmax Technologies, have spent more than $1 billion over the past two years to acquire and develop lithium projects in Zimbabwe.
Zimbabwe’s government banned raw lithium exports last year, as it seeks to get more value from the mineral.
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