The rising global demand for lithium, driven by the shift towards cleaner energy sources, highlights Africa’s growing potential in lithium mining. While Australia, Chile, and China dominate production, Zimbabwe is Africa’s leader in lithium deposits, attracting significant Chinese investment. The global effort to reduce carbon emissions has intensified interest in lithium, often dubbed ‘white gold’, vital for rechargeable batteries powering electronics and electric vehicles.

In 2023, global lithium consumption reached an estimated 180,000 tons, a 27% increase from 142,000 tons in 2022, showcasing an increasing reliance on this critical mineral. Although African nations hold approximately 5% of the world’s lithium ore reserves, many countries are increasingly turning to mineral mining as a new source of revenue, hoping to industrialise and transition from oil dependency.

President Ramaphosa of South Africa has expressed a desire to collaborate with Nigeria to develop critical minerals, particularly lithium. This partnership could leverage Nigeria’s lithium reserves for the growing electric vehicle sector. Lithium mining initiatives are burgeoning with new companies entering the market, signifying a change in focus across the continent.

Mining Review Africa has highlighted significant lithium mining projects across Africa, which include:
1. Zimbabwe – Arcadia
2. Zimbabwe – Bikita
3. DR Congo – Manono
4. DR Congo – Manono Tailings
5. South Africa – Blesberg
6. Mali – Goulamina
7. Zimbabwe – Zulu
8. Ghana – Ewoyah
9. DR Congo – Gangfeng
10. Namibia – Karibib

Zimbabwe ranks as the continent’s leading lithium producer, while Nigeria’s lithium market is still emerging, with significant deposits discovered only in 2018. China’s Avatar New Energy Materials has established the first lithium processing plant in Nigeria. Expanded efforts include approvals for new mining companies to commence operations, enhancing Nigeria’s industrial capabilities.

The article focuses on the burgeoning lithium mining industry in Africa amidst a global surge in demand for lithium, primarily due to the transition to cleaner energy sources and the rise of electric vehicles. It discusses the key players in the lithium market globally, noting Africa’s untapped potential in this sector, with Zimbabwe as a standout for its substantial lithium deposits supported by significant foreign investment.

In summary, Africa is poised to play a critical role in the global lithium market, with countries like Zimbabwe leading the way in deposits and production. The interest from South Africa and Nigeria indicates a broader trend of African nations exploring mineral wealth as a means to drive economic growth and support the green energy transition. However, the environmental impacts of mining remain a concern that needs addressing.

Original Source: africa.businessinsider.com

The post Africa’s Growing Role in Lithium Mining Amidst Global Demand first appeared on Nigerian Mining News.

Zimbabwe is set to increase its involvement in the mining sector by establishing a 26% free carry interest in new mining ventures. The government aims to negotiate similar stakes with existing operators, reflecting a broader trend among African nations to assert control over their mineral resources. This strategy aligns with Zimbabwe’s efforts to enhance economic benefits from its rich mineral deposits.

The push for higher ownership stakes in the mining industry is part of a growing movement among African countries. Many nations are seeking to renegotiate the terms of mining agreements to ensure that local economies benefit more significantly from their natural resources. Zimbabwe’s initiative illustrates its commitment to gaining a larger share of profits from its mineral wealth, which has historically been extracted by foreign companies with minimal local involvement.

Zimbabwe’s move to secure a 26% stake in new mining projects highlights its determination to increase local ownership and control over natural resources. This initiative is part of a wider trend in Africa where countries are striving for enhanced economic advantages from their mineral wealth.

Original Source: northernminer.com

The post Zimbabwe Aims for Increased Ownership in Mining Projects first appeared on Nigerian Mining News.