Mnangagwa urges investment in mineral beneficiation

President Emmerson Mnangagwa has urged private-sector investors to accelerate investment in mineral beneficiation, battery materials and manufacturing as Zimbabwe seeks to retain more value from its mineral resources and expand its industrial capacity.

Officially opening the 19th Common Market for Eastern and Southern Africa (COMESA) Business Forum in Harare on Tuesday, Mnangagwa said increased investment in critical minerals, energy, agriculture, industrialisation and human capital was essential to strengthening regional economic integration.

"The need for increased investments in agriculture, critical minerals, energy resources, industrialisation and human capital development cannot be over-emphasised," he said.

Mnangagwa highlighted the Government's restrictions on exports of unbeneficiated lithium-bearing ore, introduced in December 2022, as part of efforts to encourage local processing and retain greater economic value within Zimbabwe.

"This was done in alignment with our determination to accelerate industrialisation and retain value at source," he said.

The President called on businesses to move beyond exporting raw commodities and invest in processing minerals locally, manufacturing battery materials and developing clean-energy technologies.

Such investments could create opportunities for Zimbabwe to expand its industrial base and participate more extensively in global mineral supply chains. However, their success will depend on commercially viable projects, reliable infrastructure, access to financing and competitive production costs.

Mnangagwa also emphasised the importance of regional partnerships, saying cooperation between African countries could support the development of interconnected production networks and supply chains.

"We remain committed to mutually beneficial partnerships that expand production, trade and investment across our region," he said.

He urged COMESA member states to strengthen productive capacity, address tariff and non-tariff barriers and harmonise trade procedures. He also encouraged businesses to take advantage of opportunities presented by the African Continental Free Trade Area.

Improved regional trade arrangements could make it easier for companies to move mineral products, processing equipment and industrial inputs across borders, supporting investment in downstream industries.

The President further highlighted the importance of transport infrastructure and efficient border procedures, citing the modernisation of Beitbridge Border Post and the upgrading of the Chirundu One-Stop Border Post as initiatives intended to improve the movement of goods.

He said borders should serve as gateways to markets rather than obstacles to trade.

Zimbabwe is hosting the business forum under the theme, "One Market, One Future: Advancing Inclusive Industrialisation, Investment and Regional Integration in COMESA." The gathering precedes the 25th COMESA Summit of Heads of State and Government.

For Zimbabwe, the emphasis on beneficiation reflects the Government's ambition to move beyond exporting raw minerals towards developing domestic processing and manufacturing industries, supported by investment and stronger regional trade links.