Sinomine is one among a number of Chinese language mining corporations that entered Zimbabwe as a spike in lithium costs throughout 2021 and 2022 fueled a wave of transactions, swiftly turning the nation into a major producer of the battery metallic. President Emmerson Mnangagwa’s authorities has urged buyers to transcend exporting lithium ore or focus by finishing up extra processing domestically.
Though lithium spot costs have fallen virtually 90% within the final two years, Chinese language corporations proceed to search for feedstock for the rechargeable battery business again house — betting that costs will recuperate when manufacturing surpluses give method to deficits.
(By Godfrey Marawanyika)