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Nqobile Bhebhe, [email protected]

THE Zimbabwe School of Mines (ZSM) will host a one-day lithium and battery minerals conference in Bulawayo to explore financing and investment opportunities in the sector and the environmental impact associated with lithium mining among other key issues.

The conference set for 1 November will run under the theme “Powering Zimbabwe’s Future “Exploring Opportunities and Challenges for Sustainable Development in Lithium and Battery Minerals Industry.”

Recently, a battery markets analyst at mining consultancy CRU said Zimbabwe is poised to be the world’s fifth largest primary producer of lithium by 2025 taking advantage of the several massive investments worth almost a combined $1 billion injected in the past two years.

The capital outlay is coming primarily from Chinese companies, many of which are mid or downstream manufacturers to ensure a stable supply of lithium to their operations in China.

According to the school of mines, during the conference, sub-topics to come under the spotlight range from exploration and mining, economic and marketing of the mineral, project financing and investment in the lithium sector and environmental impact of the mining process.

Lithium is one of the most sought-after minerals in the world at the moment as it is used in manufacturing car batteries for electric vehicles (EVs).

The world is witnessing an EVs boom as non-combustion engine vehicles help to promote a cleaner environment by reducing global carbon emissions that have contributed to the scourge of climate change.

Zimbabwe is endowed with this resource, a development which has seen increased investor traffic into the country.

The country is estimated to hold Africa’s largest lithium resources and the fifth largest globally and is rapidly emerging as an important player within the lithium supply chain.

However, lack of technological advancements and a delicate economic base are some of the major stumbling blocks slowing the country’s ability to process raw minerals leading to loss of potential revenue.

Efforts to add value to the resource have been topical and in December last year the Government banned the export of unprocessed lithium to curb smuggling through the country’s porous borders to neighbouring nations including South Africa.

Zimbabwe is targeting to earn at least US$500 million from lithium mining activities as the country moves closer to the set timeline to attain a US$12 billion mining industry.

The country’s revenue from lithium exports is expected to surge as the commodity’s price continues on an upward trend on the global market.