Nyashadzashe Ndoro
Zimbabwe’s ruling Zanu PF party has hailed Chinese companies for taking a leading role in the lithium mining industry in the country.
A consistent and reliable supply of lithium is required worldwide to power the vast quantity of EVs being produced. China is among the leading producers of lithium globally, and it is also a leading consumer of the metal. The Asian nation currently dominates the production of lithium-ion batteries
Zanu PF information director, Farai Marapira notes that Zimbabwe has the largest lithium reserves and mines in Africa and the southern African country is ranked high amongst the leading lithium producing and supply countries after Chile, Australia, China, Argentina and Brazil.
He said that due to technological advancements, Zimbabwe stands a chance of improving its economy and defeating sanctions imposed by the West through lithium production trade.
“The observed exponential global demand for lithium is being driven by the rising production of (E.V’s), electric vehicles, and other electronic gadgets across the technological spectrum. Lithium is also essential for energy transition based on zero carbon emission.
“Zimbabwe’s lithium has attracted a myriad of prospective lithium mining investors, with China leading the investment race. To date, there are more than seven lithium exploration and mining projects at different development stages, with Chinese companies leading the race.
“Zimbabwe, therefore, now stands a better chance of coming clear economically after years of isolation and sanctions driven economic turmoil. As lithium production develops, the Zanu PF government is taking advantage of this huge resource wealth to develop communities and the economy through transparent, accountable, and responsible investment decisions. These include statutes on beneficiation and a clear drive towards battery production as further beneficiation within the borders of Zimbabwe in the very near future,” he said.
Marapira further noted that Chinese companies have acquired million dollar lithium mines, which will further boost the country’s competitive advantage in the global metal markets.
“Chinese companies have acquired the largest portfolio of lithium mining projects in Zimbabwe. Some notable Chinese acquisitions include Arcadia Lithium Project acquired by Zhejiang Huayou Cobalt for US$422 million from Prospect Resources in 2021 and Bikita Lithium Mine acquired by Sinomine Resource Group (SRG). Bikita Mine alone has resources estimated at 11 million metric tonnes.
Besides acquisitions, Chinese investors Eagle Canyon International Group Holding Limited and Pacific Goal Investments have sealed a deal of US$13 billion with the Government for the construction of a, “mine to energy industrial park”, to produce lithium-ion batteries.
In March 2023, China Natural Resources entered into an agreement to acquire US-based Williams Minerals (Pvt) Ltd, which owns lithium mining rights in Zimbabwe. Lithium is an economic game changer, and the shrewd policies of His Excellency, President Emmerson Mnangagwa, clearly show a trajectory for attaining Vision 2030,” Marapira added.
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