ZIMBABWE is set to participate at the upcoming global Critical Minerals Africa Summit set for South Africa as the world pivots toward sustainable energy solutions.
Deputy Mines minister Polite Kambamura will lead the country’s delegation to the summit which runs from November 6 to 7 in Cape Town.
Zimbabwe holds a 10% share of the global lithium market, a critical mineral for renewable energy technologies such as electric vehicle batteries.
Reports indicate that since the country’s 2022 export ban on raw lithium, there has been a substantial increase in downstream investments to maximise value extraction.
The country’s platinum output also increased in 2023 as international mining firms pursued new deals to meet rising demand for the mineral, driven by its applications in green hydrogen technology.
The platinum sector is poised to play a significant role in driving economic growth in Zimbabwe, supported by strong partnerships and investments.
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The global transition to green energy has boosted the demand for copper, essential for electrical components and renewable energy technologies.
Zimbabwe is tapping into its copper resources through key initiatives like the newly commissioned copper processing facility at Mhangura Mine.
This US$5 million facility, a joint venture between the Zimbabwe Mining Development Corporation and Chinese firm Zhi Jui Mining, has a processing capacity of 26 million tonnes of copper per annum.
Additionally, the UK-based mining company Marula has launched a copper mining subsidiary to further explore Zimbabwe’s potential in this crucial mineral, aligning with the global shift toward clean energy.