According to GlobalData a research firm, #Zimbabwe was the world’s sixth-largest producer of #lithium in 2023, with output up by 428% in 2022. Yep 400%. Now over the last five years ending in 2022, lithium production from Zimbabwe decreased by 9.18% due to political and economic challenges but with the economy opening up after sanctions from the US were lifted, lithium mining is just one of the industries that is expected to rise in the country, estimates saying this could be by as much as 31% between 2023 and 2027. The Zimbabwean gov is looking to get the lithium industry up to $10bn per year but analysts say the president & gov are a little ambitious…
But I want us to look at this opportunity as see where it could take the country.
Zimbabwe accounts for approximately 3% of global lithium production, with the largest producers being #Australia, #Chile, #China and #Argentina.
With there being increased efforts to address the global #climate emergency this has leading to an increased demand for renewable energy technology, particularly in the #GlobalNorth, which has meant an increased need for electric vehicles and the batteries required to power them. Africa and in particular Zimbabwe is one of the new frontiers in a race for #batterymetals, and lithium - which is sometimes referred to as ‘white gold’ -now one of the most sought-after commodities in the world.
Given how tight lithium supply chains are globally, lithium exports could potentially help Zimbabwe escape its status as a pariah state, largely isolated by Western politicians and investors. But a big scramble is under way for the country’s critical minerals and at the moment China is winning it and many countries around the world don’t like that. This could and likely will mean more political challenges for the country but with so much at stake, a way forward is needed and must be found in order for Zimbabwe’s economy to grow. Zimbabwe must be made great again.
What are your thoughts ? Can Zimbabwe take advantage of this new opportunity ?
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10 сен 2024
