Zimbabwe’s Lithium Boom Defies Global Price Slump, Eyes Battery Hub Status

Zimbabwe has defied a global lithium price crash, reporting a 30% surge in spodumene concentrate exports in the first half of 2025.

According to the Minerals Marketing Corporation of Zimbabwe (MMCZ), the country exported 586,197 metric tons of spodumene, a sharp increase from 451,824 tons in the same period of 2024.

This growth comes despite a 90% plunge in global lithium prices—from over US$80,000 per ton in 2022 to just US$8,450 in June 2025—driven by a glut in supply.

Yet, Zimbabwe’s strategic positioning and forward-looking policies have insulated it from market volatility, offering a compelling narrative of resilience and ambition.

Chinese Investment Fuels Zimbabwe’s Lithium Expansion

Key to this growth is massive Chinese investment, totalling over US$1.4 billion since 2021, making Zimbabwe a focal point in the global electric vehicle (EV) supply chain. Major Chinese mining companies—including Huayou Cobalt, Sinomine, Chengxin, Yahua, and Tsingshan—have expanded their operations, bolstering Zimbabwe’s position as a top lithium exporter in Africa.

• Huayou Cobalt exported 400,000 tons of lithium concentrate from Zimbabwe in 2024 and is now constructing a 50,000 tpa lithium sulphate plant.
• Sinomine Resources Group plans a US$500 million beneficiation plant at Bikita, a move expected to boost local value addition.

Zimbabwe’s Lithium Beneficiation Push: A Game-Changer

Zimbabwe’s ban on raw lithium exports by 2027 is a cornerstone of its beneficiation strategy, designed to move the country up the battery value chain. By encouraging local processing of lithium into battery-grade materials, Zimbabwe aims to:

• Retain more economic value domestically
• Support the local job market
• Strengthen its role in the global EV manufacturing ecosystem

Learn more about the beneficiation process in mineral economics

Resilience Amid Lithium Price Crash

The contrast between global lithium price trends and Zimbabwe’s rising export volumes underscores the country’s strategic foresight. While lithium miners in other regions scale down operations, Zimbabwe’s policy consistency and investor partnerships provide a cushion against market fluctuations.

“This is not just a commodities story—it’s about long-term industrial strategy,” said an MMCZ spokesperson.

“Zimbabwe is positioning itself as a battery minerals hub, not just a supplier of raw ores.”

Challenges Ahead: Infrastructure and Energy Security

Despite the success, challenges remain. Zimbabwe must address:

• Power reliability for processing plants
• Transport infrastructure for heavy mineral logistics
• Regulatory clarity to maintain investor confidence

Still, the trajectory is promising. As global demand for EVs continues to rise, Zimbabwe’s policies align with the need for diversified, stable sources of battery minerals.

Stay updated on electric vehicle adoption and mineral demand trends

Africa’s Lithium Powerhouse Looks to the Future

Zimbabwe’s lithium boom is more than a resource story—it is a strategic pivot toward sustainable industrialisation. With beneficiation plants under construction and exports rising despite global headwinds, Zimbabwe is on track to become a continental leader in battery-grade lithium production.

As the world races toward net-zero emissions and clean energy technologies, Zimbabwe may well emerge as a critical node in the EV supply chain, redefining its role in the global economy.

Explore how Zimbabwe is building a green future from its mineral wealth.