Zimbabwe‘s ministry of mines announced on Wednesday that it has suspended all exports of lithium raw minerals and lithium concentrates, effective immediately.
This export suspension includes all minerals currently in transit, with no clear timeline for resumption provided. The ministry stated that only mining companies with valid mining licenses and approved processing plants will be permitted to export minerals in the future. Listed Chinese companies such as Shengxin Lithium, SinoMine Resources, CanMax, and Yahua Group are reported to have investments in lithium mines in Zimbabwe.
On February 26, a representative from SinoMine Resources said: “All exports of lithium concentrates from Zimbabwe to China have been halted, and we are waiting for further policy details. Currently, the company has little presence in the deep processing of lithium products locally. We are considering related plans for extending the industrial chain, but it is inconvenient to disclose them at this time."
A representative from Huayou Cobalt indicated that the recent "ban" in Zimbabwe mainly targets the regulation of illegal exports, and that the company's mining license is issued by the ministry of mines. The specific impact of this situation is yet to be determined.
A spokesperson from Yahua Group mentioned, “The company has already shipped out all the lithium concentrates produced in Zimbabwe ahead of time. The recent 'export suspension' will not affect our production operations.” The spokesperson further clarified, “According to the document, traders and agents that have not obtained mining licenses and processing qualifications locally no longer qualify for export. However, Yahua Group can continue to apply for export and needs to supplement relevant information in the export licensing process, which the company has already begun to address.”
Explore more exclusive insights at nextfin.ai.
