Zimbabwe has banned the export of unprocessed raw lithium, a key material in EV batteries, in an effort to encourage local processing of the metal.
“We have done this in good faith for the growth of industry. If we continue exporting raw lithium we will go nowhere. We want to see lithium batteries being developed in the country.”
– Polite Kambamura, Deputy Mines Minister
Demand for lithium has soared by 1,100% in the last two years, as mining companies search for new sources. By 2030, Rio Tinto Group predicts half of all car sales to be EVs.
Chengxin Lithium Group Co. and Sinomine Resource Group Co. plan a joint venture, while Zhejiang Huayou Cobalt Ltd. look to invest $300 million in a lithium mine.
