Zimbabwe has made a whopping $209 million from exporting lithium in just nine months, according to the Ministry of Mines. This is great news for the country, as it is struggling economically and is hoping that the demand for lithium, which is used for storing renewable energy, will help boost its economy. In fact, Zimbabwe is already the leading lithium producer in Africa. Chinese companies have also shown interest in investing in Zimbabwe, with licenses worth $2.79 billion being awarded in the third quarter. This is a huge increase compared to the previous year. The proposed investment will mainly focus on mining and energy, and it is expected to address the country’s power supply challenges. The Chinese applications for investment were the most in terms of number and value, with mining being their preferred sector. They are also involved in modernizing power facilities in Zimbabwe. Out of the total investment, $2.8 billion will be allocated for energy initiatives and $411 million for mining. Some of the projects supported by China include an energy and mining complex in Mapinga and a 500-megawatt solar energy project. This is definitely a positive development for Zimbabwe and shows the potential for growth in the lithium industry.
