Zimbabwe Finance Minister Says Lithium Export Ban Received Positive Feedback at World Economic Forum

Finance Minister Mthuli Ncube said on June 26 that Zimbabwe's ban on raw lithium exports has received positive feedback from global investors and policymakers at the World Economic Forum Annual Meeting in Dalian, China. Speaking on the sidelines of the forum, Ncube described the measure as part of a carrot-and-stick approach.

The ban prevents exports of unprocessed critical minerals such as lithium, while companies that process lithium to the level of lithium sulphate gain access to Special Economic Zone status and manufacturing incentives.

Ncube said Zimbabwe has emerged as a global leader in managing critical minerals, particularly lithium. "For a country such as Zimbabwe, our contribution has been strong when it comes to critical minerals, where in a sense we have led the world in many ways," he said. Discussions at the forum centered on artificial intelligence, green technology and advanced manufacturing, Ncube added.

"We have discussions around new technologies such as artificial intelligence and green technology and advanced manufacturing with new technologies that we all should aim to share," he stated. " Zimbabwe possesses some of the world's largest hard-rock lithium deposits.

The government has intensified efforts to require mining companies to process minerals locally in order to raise export earnings, create jobs and build downstream industries, AllAfrica reported.