Zimbabwe is keen to attract capital to its mining sector and is pushing lithium as a major draw for investors.
Lithium is the alkali metal used in batteries for electric vehicles.
The country's Mines minister, Winston Chitando, told a mining investment conference in the capital, Harare:
“We believe we have the potential to actually account for 20 percent of global demand when all known lithium resources are being exploited.”
Presently, Zimbabwe is a top 10 of lithium producer but produces only a fraction of the worldwide total. It aims to supply 10 percent of the world’s lithium in four years.
President Mnangagwa
Prices for lithium have more than doubled in the past two years. This is due to forecasts for massive demand from the electric vehicle industry. This has sparked work on a flurry of new mines and expansion plans for existing ones.
Prices for lithium have more than doubled in the past two years. This is due to forecasts for massive demand from the electric vehicle industry. This has sparked work on a flurry of new mines and expansion plans for existing ones.
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