This was disclosed by the Chinese company in charge of the project, Sichuan Yahua Industrial Group Co., marking the third such project in the country.
As seen on Bloomberg, Yahua, which operates the Kamativi lithium mine in a joint venture with Zimbabwe, announced Thursday on a Shenzhen Exchange platform that it has commenced construction on a plant to produce lithium sulfate.
The plant was led by the largest lithium producer in Zimbabwe, Prospect Lithium Zimbabwe (PLZ), and financed by Zhejiang Huayou Cobalt Co, a Chinese high-tech enterprise.
These developments are coming at the same time, Zimbabwe decided to halt the export of lithium (often called white gold) and other raw materials.
Zimbabwe’s plan to phase out the export of raw lithium
Basically, Zimbabwe is in the process of phasing out the sale of raw materials and instituting the export of a higher-value sulfate product.
The Southern African country’s mines ministry, via a statement, noted that “Government expects cooperation of the mining industry on this measure, which has been taken in the national interest.”
On the Guangzhou Futures Exchange, the most traded lithium carbonate contract jumped 6.07% to 178,020 yuan ($26,043) per metric ton as of 03:30 GMT, after earlier spiking more than 9% to 187,700 yuan.
At the time, the country’s Mines Minister, Winston Chitando, stated that such a decision would only increase local value addition in the mining sector.
“With effect from January 2027, the export of lithium concentrates will no longer be allowed,” the minister said to reporters in Zimbabwe’s capital, Harare.
The mines ministry revealed that it will realign export procedures because of “continued malpractices during the exportation of minerals” in the letter, obtained by Reuters on Wednesday, that was issued to Zimbabwe’s Chamber of Mines.