Zim GBC News | Business Correspondent
HARARE – Chinese mining giant Sinomine Resource Group has confirmed it is in active discussions with Zimbabwean authorities to resume exports of lithium concentrates, weeks after the government imposed a ban on shipments of the raw material.
In a statement issued on Friday, the Shenzhen-listed company said it was engaging with regulators following the abrupt policy shift aimed at forcing local processing of the battery mineral.
“The company is in communication with Zimbabwean authorities over a new export application,” Sinomine said in response to investor queries on a platform affiliated to the Shenzhen Stock Exchange.
Zimbabwe, which holds some of the world’s largest lithium deposits, banned exports of all raw lithium and concentrates in late February. The government cited widespread malpractice in the sector and reiterated its commitment to promoting “in-country value addition” to maximise economic benefits from the mineral critical to the global energy transition.
Despite the disruption, Sinomine sought to reassure investors that the ban has had limited impact on its operations at the Bikita mine, one of Zimbabwe’s largest lithium projects.
“The ban has limited impact on its Bikita mine,” the company noted, without elaborating on how it had managed to navigate the restrictions.
The development signals a potential breakthrough for the lithium sector, which has attracted billions of dollars in Chinese investment in recent years. However, Harare has grown increasingly assertive in demanding that mining companies establish local processing facilities rather than exporting raw ore, a policy mirrored across the region.
Industry analysts suggest the outcome of Sinomine’s talks with authorities could set a precedent for other miners operating in the country.
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