Zimbabwe Bans Export of Raw Minerals and Lithium Concentrates to Gain Greater Local Benefits
Zimbabwe has banned the export of raw minerals and lithium concentrates as of the 25th of February, 2026. The ban was initially planned for 2027, but the Government decided to implement it earlier due to ‘continued malpractices.’ The Ministry of Mines clarified that the ban also includes all minerals in transit.
In its public statement, the Zimbabwean Government reiterated its policy and commitment towards transparency, accountability, and local value addition (#LVA) and thanked the mining industry players for their cooperation in promoting the national interest.
Zimbabwe is endowed with rich mineral reserves, in particular the Platinum Group of Metals (PGM), Ferrochrome, #Lithium, and Gold. The mining sector in Zimbabwe accounts for 14.3% of the country’s #GDP and is ranked as the second-largest sector after manufacturing. The measure appears to target lithium in particular, as Zimbabwe holds Africa’s largest reserves, and accounts for about 10% of the global lithium production.
In 2025, Zimbabwe exported 1.128 million tonnes of concentrated lithium ore — occurring as spodumene — representing an increase of 11% compared to 2024. Most of the #spodumene is destined for China, which ambitions to be the world leader in electric vehicles (#EV) by controlling the full ecosystem.
| Year \ Price $/T | Spodumene | Lithium Carbonate | Lithium Hydroxide |
|---|---|---|---|
| 2025 (End) | 800 | 14,000 | 13,000 |
| 2026 (Late Feb) | 2,000 | 26,000 | 23,000 |
Currently, Huayou (SHA: 603799) has invested USD 400 million to build a lithium sulphate plant near its Arcadia mine in Zimbabwe. Sinomine also announced plans to invest USD 500 million to build a lithium sulphate plant near its Bikita mine. Lithium sulphate is an intermediate product between the lithium ore concentrate and lithium carbonate or lithium hydroxide, and Zimbabwe is eager to move up the value chain.
One tonne of lithium ore concentrate is sold for less than USD 1,000, whereas one tonne of battery-grade lithium carbonate can fetch more than USD 20,000. The price differential or value-add represents the wealth being extorted
Following the announcement by Zimbabwe, the price of lithium concentrate more than doubled to USD 2,000 per tonne compared to its average price in 2025, while that of lithium carbonate jumped up to more than USD 25,000 per tonne. Other producers of lithium in Australia and Chile stand to benefit from the price uptick. In order to maximize their benefits, mining countries are mulling the possibility of setting up an OPEC-like association for lithium and other #CriticalMinerals.