Zimbabwe
Overview
Overview
Zimbabwe's mining sector is diverse, encompassing nearly 40 minerals, with key ones including platinum group metals (PGM), chrome, gold, coal, lithium, and diamonds. It holds the world's second-largest platinum deposits and substantial chromium ore reserves.
Mining contributes around 12% to the GDP and accounts for 80% of national exports. Despite challenges like power shortages and policy uncertainties, the sector aims to reach a $12 billion annual revenue by 2023, according to the Minister of Mines. In 2022, the industry generated $5.6 billion, up from $5.1 billion in 2021, with a projected 10.4% growth in 2023, as reported by the Chamber of Mines.
Key green minerals
Major mining
projects
Value-addition initiatives
Value-addition initiatives
In December 2022 Zimbabwe banned all exports of unprocessed lithium ore.
It was reported in July 2023 that Prospect Lithium Zimbabwe, an arm of Chinese company Zhejiang Huayou Cobalt, had begun operations at a $300 million lithium processing plant in Zimbabwe. The plant has capacity to process 4.5 million metric tons of hard rock lithium into concentrate for export per year. This is the largest lithium processing plant in Zimbabwe.
It was reported that two further lithium processing plants, one developed by Shengxiang Investments and the other by Rwizi Rukuru were under construction in Zimbabwe and would begin production in 2024.
