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Zimbabwe against multinational corporations, stop the export of raw lithium. “We want to develop local industry”

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Zimbabwe has the largest lithium reserves in all of Africa and is capable of meeting a fifth of global demand, according to the government. The country’s goal is to keep battery production within its borders and no longer allow foreign multinationals to dominate the process.

A few days ago, Zimbabwe decided to ban it. export of lithium in raw form. The mineral is indispensable for the construction of electric batteries, both for cars and for computers or phones, and in the last couple of years, for our own cost increased more than 10 times. However, according to the African country, the fact that lithium is simply mined in its mines and then processed elsewhere entails significant losses for the state treasury, at least for the moment. 1.7 billion euros on an economy that stands as a whole 28 billion. “If we continue to export raw lithium, we are not going anywhere. We want to see the development of lithium batteries in the country,” said the Deputy Minister of Mines Polite Kambamura. Zimbabwe, with a population of 16 million, has a GDP per capita of 1700 USDat the bottom of the global rankings.

Zimbabwe has the largest lithium reserves in all of Africa and is capable of meeting a fifth of global demand, according to the government. The ambition of the country is to locate within its borders the industry for the production of batteries and no longer allow foreign multinational corporations to dominate the process. A turning point which, if successful, will set an important precedent for all countries rich in raw materials that have become essential but poor in their production chains. In recent years, several local mines have been acquired by Chinese groups such as Zhejiang Huayou Cobalt, Sinomine Resource Group and Chengxin Lithium. However, the fact that these companies also invest in mineral processing plants makes them immune to the ban. Mining companies building processing plants would not be subject to the export ban directive, he said. Kambamura. Last July, the country banned the export of rough granite.

Source: II Fatto Quotidiano

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