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
bearing
rock
in
the
open
pit
at
the
Bikita
Minerals
lithium
mine,
operated
by
Sinomine
Resource
Group
Co.,
in
Bikita,
Zimbabwe,
on
Tuesday,
Nov.
19,
2024.
[Cynthia
R
Matonhodze/Bloomberg
via
Getty
Images]
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.