Zimbabwe's government will impose strict restrictions on exports of raw lithium from December 21, according to a document from Zimbabwe's Ministry of Minerals and Mining Development.
According to Ministry Minister Winston Chitando, Zimbabwean miners are not allowed to export any lithium-bearing ore or unrefined lithium metal from Zimbabwe to other countries unless they have written permission from the minister.
The government explained the move as an effort to curb black market sales and prevent billions of dollars in mineral proceeds from going to foreign companies. Zimbabwe's government hopes to rely on the minerals to pay off its nearly $14 billion foreign debt and realize its vision of becoming a middle - and upper-income economy.
Zimbabwe has the largest lithium deposit in Africa and the largest hard rock lithium reserves in the world. Once fully developed, Zimbabwe is expected to meet 20% of global lithium demand, making it one of the largest lithium exporters in the world.
But Zimbabwe's ban does not apply to exports of lithium concentrate. According to Kambamura, mining companies that are building processing plants in Zimbabwe will be excluded from the ban.
China's three biggest mining companies -- Zhejiang Huayou Cobalt, China Minerals Resources Group and Chengxin Lithium Group -- are not, according to media accounts. The three companies have acquired a total of $678 million worth of lithium deposits and related projects in Zimbabwe in the past year, and have built processing plants there to help develop the mines, which will exempt them from the ban.
