The office of Zimbabwean President Emmerson Mnangagwa on Friday voiced support for Chinese investment in the nation’s lithium processing sector, identifying it as a central element of the government’s plan for domestic resource value addition. The remarks were delivered in a speech read by Vice President Constantino Chiwenga on Mnangagwa’s behalf at the opening of the Mining, Engineering and Transport (Mine Entra) conference in Bulawayo.
The speech highlighted the role of foreign investment in developing Zimbabwe’s capacity to process its raw mineral wealth, a policy known as beneficiation. Specifically, the address mentioned Zhejiang Huayou Cobalt, a China-based company that has made significant investments in Zimbabwe’s lithium industry.
“The investment by a global giant, Zhejiang Huayou Cobalt, into the lithium sector, is most commendable and is a testament to the conducive investment environment,” the speech stated, as delivered by Chiwenga. It further noted that such projects are intended to help the country achieve its goal of establishing a US$12 billion mining industry.
This official support aligns with a government directive issued in December 2022 that banned the export of raw, unprocessed lithium. The policy was implemented to encourage the development of local processing plants, which convert raw lithium ore into higher-value concentrates or battery-grade chemicals before export. Government officials have previously stated the measure aims to retain more of the mineral value chain within Zimbabwe.
Zhejiang Huayou Cobalt, through its local subsidiary Prospect Lithium Zimbabwe, acquired the Arcadia lithium mine near Harare and has since constructed a processing plant on the site. Company reports indicate an investment of approximately US$300 million into the project, which was commissioned in 2023. The plant is designed to produce lithium concentrates, including spodumene and petalite, for the global market, particularly for use in electric vehicle batteries.
The Mine Entra conference, where the speech was delivered, is an annual industry event that brings together mining companies, investors, and government officials to discuss developments in the sector. The government’s statements underscore its continued focus on the mining industry as a primary driver of economic activity.
