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Zimbabwe to participate at top minerals summit
25 Oct 2024 at 08:50hrs | Views
Zimbabwe is preparing to participate in the upcoming Critical Minerals Africa Summit, scheduled to take place in Cape Town, South Africa, from November 6 to 7. The summit comes at a time when the world is increasingly shifting toward sustainable energy solutions, and Zimbabwe is eager to showcase its significant contributions to this global movement.
Leading the Zimbabwean delegation will be Deputy Mines Minister Polite Kambamura. The country boasts a 10% share of the global lithium market, a vital mineral for renewable energy technologies, particularly in electric vehicle batteries. Since the implementation of a raw lithium export ban in 2022, Zimbabwe has experienced a notable surge in downstream investments aimed at maximizing value extraction from its lithium resources.
In addition to lithium, Zimbabwe's platinum production has also seen an uptick in 2023. International mining firms are actively pursuing new deals to capitalize on the rising demand for platinum, largely driven by its role in green hydrogen technology. This growth in the platinum sector is expected to significantly contribute to Zimbabwe's economic development, bolstered by strong partnerships and investment opportunities.
The global transition to green energy has further amplified the demand for copper, which is essential for electrical components and renewable energy technologies. In response, Zimbabwe is leveraging its copper resources through strategic initiatives, including the recent commissioning of a copper processing facility at Mhangura Mine. This US$5 million facility, a collaborative venture between the Zimbabwe Mining Development Corporation and Chinese firm Zhi Jui Mining, has a processing capacity of 26 million tonnes of copper per year.
Moreover, the UK-based mining company Marula has launched a subsidiary focused on copper mining in Zimbabwe, aligning its efforts with the worldwide shift toward clean energy solutions. This development is expected to enhance the country's potential in copper production, further supporting its ambitions in the sustainable energy sector.
As Zimbabwe positions itself as a key player in the global critical minerals landscape, participation in the Critical Minerals Africa Summit underscores its commitment to engaging with international stakeholders and advancing its mining sector in line with global sustainable energy goals.
Leading the Zimbabwean delegation will be Deputy Mines Minister Polite Kambamura. The country boasts a 10% share of the global lithium market, a vital mineral for renewable energy technologies, particularly in electric vehicle batteries. Since the implementation of a raw lithium export ban in 2022, Zimbabwe has experienced a notable surge in downstream investments aimed at maximizing value extraction from its lithium resources.
In addition to lithium, Zimbabwe's platinum production has also seen an uptick in 2023. International mining firms are actively pursuing new deals to capitalize on the rising demand for platinum, largely driven by its role in green hydrogen technology. This growth in the platinum sector is expected to significantly contribute to Zimbabwe's economic development, bolstered by strong partnerships and investment opportunities.
The global transition to green energy has further amplified the demand for copper, which is essential for electrical components and renewable energy technologies. In response, Zimbabwe is leveraging its copper resources through strategic initiatives, including the recent commissioning of a copper processing facility at Mhangura Mine. This US$5 million facility, a collaborative venture between the Zimbabwe Mining Development Corporation and Chinese firm Zhi Jui Mining, has a processing capacity of 26 million tonnes of copper per year.
Moreover, the UK-based mining company Marula has launched a subsidiary focused on copper mining in Zimbabwe, aligning its efforts with the worldwide shift toward clean energy solutions. This development is expected to enhance the country's potential in copper production, further supporting its ambitions in the sustainable energy sector.
As Zimbabwe positions itself as a key player in the global critical minerals landscape, participation in the Critical Minerals Africa Summit underscores its commitment to engaging with international stakeholders and advancing its mining sector in line with global sustainable energy goals.
Source - newsday
