'Zimbabwe must invest in minerals exploration'

Zimbabwe's Mines Minister, Zhemu Soda, emphasized the need for investment in the exploration of critical minerals to attract long-term investments for economic development. Speaking at a lithium and battery minerals conference hosted by the School of Mines during the Mine Entra event, Soda noted that Zimbabwe remains under-explored in the mining sector and suggested that the country could enhance revenue generation by exploring and discovering new battery mineral deposits for global markets.

Soda highlighted the successful exploration of mineral resources as a driver of job creation and technological transformation, citing the recent completion of the Prospect Lithium Zimbabwe mine and processing plant as an example of foreign investment resulting from exploration efforts. He also mentioned that the government is working on policies to regulate lithium and other battery minerals mining.

The minister mentioned that a ban on the export of raw base mineral ores, including lithium and coal, was introduced to prevent rampant exports in their raw form. The ban, along with the introduction of the lithium ore policy, provided opportunities for the mining industry to invest in value addition and beneficiation.

Lithium is increasingly in demand as the world strives to achieve a net-zero global economy and reduce greenhouse gas emissions. Zimbabwe is positioned favorably in this regard, boasting the sixth-largest lithium reserves globally, making it an attractive destination for investment in lithium production.