Zimbabwe Aims to Lead the Charge in Renewable Energy with Its Lithium Mining Potential
Zimbabwe, a landlocked Southern African nation, is strategically positioning itself as a significant player in the global energy transition, particularly amidst the increasing demand for renewable energy technology. The country boasts a history of lithium mining and vast lithium reserves, emerging as a strong contender in meeting the surging demand for electric vehicle (EV) batteries.
Bikita Minerals, situated 300 kilometers south of the capital Harare, is estimated by the government to hold approximately 65.43 million metric tonnes of lithium resources, further solidifying Zimbabwe’s significance in the global sustainable energy landscape. In 2023, the nation garnered a substantial $209 million in income from lithium exports, with projections indicating this figure is expected to reach $500 million in 2023, establishing lithium as Zimbabwe’s third largest mineral export after gold and platinum group metals.
Major international corporations from China, Australia, and the United States are actively pursuing key assets in battery metals, with particular emphasis on lithium. This heightened interest in Zimbabwe as a mining hub underscores the country’s influence in the global mining industry and cements its strategic position as an EV battery hub.
Chinese companies, in particular, are at the forefront of investing in Zimbabwe’s lithium ventures, with licenses awarded to these companies amounting to an impressive $2.79 billion in the third quarter of 2023 alone. This underscores China’s steadfast commitment to the region and strengthens its position as a leading force in shaping the future of EV battery technology.
Moreover, African billionaires such as Benedict Peters are also making significant strides in the lithium mining sector, a move expected to further enhance Zimbabwe’s lithium industry. Peters’ company, Bravura Holdings Ltd., has strategically acquired mining assets and is focusing on a substantial lithium deposit in Kamativi, as well as developing other mineral assets across Africa.
In President Emmerson Mnangagwa’s vision to elevate Zimbabwe to an upper-middle-income economy by 2030, the mining industry has been identified as a pivotal driver. The Ministry of Mines and Mineral Development envisions Zimbabwe becoming the world’s leading exporter of lithium, with aims to supply 20 percent of the global demand once the nation’s lithium resources are fully tapped.
The enactment of the Base Mineral Export Control Act in December 2022 prohibits the export of raw lithium, with exemptions for entities engaged in the development of mines or processing plants in Zimbabwe. This measure aims to promote mineral value addition, stimulate the emergence of new local enterprises, and create employment opportunities.
In addition to the focus on the mining sector, President Mnangagwa’s administration has directed attention to revitalising Zimbabwe’s agricultural landscape. Through initiatives to integrate the country into international markets via strategic agricultural policies and investments, Zimbabwe aims to prosper in both the mining and agricultural sectors.
As Zimbabwe continues to pursue economic recovery and agricultural excellence, strategic partnerships and global involvement are regarded as essential components for the country’s revitalization. Such engagement not only presents an economic opportunity but also a strategic necessity to counterbalance influence and foster a more competitive global industry.
Overall, Zimbabwe’s proactive approach to the renewable energy sector, combined with strategic investments in mining and agriculture, positions the country as a formidable player in the global transition towards sustainable energy.
