Connect with us

Hi, what are you looking for?

Investing

Zimbabwe Imposes Immediate Ban on Raw Mineral and Lithium Exports

Zimbabwe has imposed an immediate ban on exports of all raw minerals and lithium concentrates, halting shipments already in transit as the government tightens control over the country’s mining sector.

Mines and Mining Development Minister Polite Kambamura announced Wednesday that the suspension takes effect immediately and will remain in place until further notice.

“Government expects cooperation of the mining industry on this measure which has been taken in the national interest,” the ministry said in a statement.

It added that authorities remain committed to “ensuring transparency, in-country value addition and beneficiation, compliance, and accountability in the exportation of Zimbabwe’s mineral resources.”

The abrupt move accelerates earlier plans to curb lithium concentrate exports. Harare had previously set January 2027 as the deadline for banning such shipments, aiming to push miners to establish local processing and refining capacity. Wednesday’s announcement effectively brings that timeline forward.

In a February 17 letter to the Chamber of Mines of Zimbabwe seen by Reuters, the ministry said it would realign export processes amid concerns about “continued malpractices during the exportation of minerals.”

The letter described the review as “part of a broader effort to curb leakages and enhance efficiency within our systems.”

Kambamura told reporters in Harare that the ban would only be lifted if miners comply with government requirements. He said Zimbabwe “will be engaging the industry in the near future on new expectations and way forward.”

Zimbabwe has rapidly emerged as a major supplier of lithium concentrate to China, where the material is refined into battery-grade products used in electric vehicles and energy storage systems.

The country exported 1.128 million metric tons of lithium-bearing spodumene concentrate by the end of 2025, up 11 percent from the previous year. It also holds Africa’s largest lithium reserves and ranks among the top global producers, with resources estimated at 126 million metric tons, according to official data.

Much of the sector’s recent growth has been driven by Chinese investment, with companies committing billions of dollars to develop Zimbabwean mines.

Lithium, along with rare earths and other strategic materials, have gained strategic priority for its role in producing batteries, electronics, renewable energy systems, and defense technologies.

Mining is Zimbabwe’s second-largest contributor to gross domestic product after manufacturing, accounting for 14.3 percent of output, according to World Bank data.

The immediate suspension, however, introduces uncertainty for producers and exporters who had been preparing for a phased transition.

Securities Disclosure: I, Giann Liguid, hold no direct investment interest in any company mentioned in this article.

This post appeared first on investingnews.com

You May Also Like

World News

Sister Stephanie Schmidt had a hunch about what her fellow nuns would discuss over dinner at their Erie, Pennsylvania, monastery on Wednesday night. The...

World News

In the final three weeks of the presidential race, former president Donald Trump and his advisers have attacked one particular foe more than three...

Stock

In this exclusive StockCharts video, Joe breaks down reverse divergences (hidden divergence), key upside & downside signals, and how to use ADX and Moving...

Business

Coca-Cola is launching a prebiotic soda brand called Simply Pop, taking on upstarts Olipop and Poppi. Starting in late February, consumers on the West Coast...