HARARE, June 25 (Xinhua) -- Zimbabwe will stick to the 2027 deadline for lithium producers to set up beneficiation plants, with those unable to do so encouraged to sign tolling agreements with companies that have the processing capacity, Finance, Economic Development and Investment Promotion Minister Mthuli Ncube said Wednesday.
The minister's remarks came after the majority of the country's lithium producers last week pleaded for more time to complete beneficiation plants.
Out of the seven major lithium producers in the country, only one company is ready to transition from concentrates to lithium sulfate production, according to Innocent Rukweza, chairman of the Lithium Association of Zimbabwe.
The Zimbabwean government has proposed to ban lithium concentrates exports with effect from January 2027 to boost local refining and maximize revenue retention from value-added lithium exports.
Addressing a media briefing via video link from China, Ncube said the government expects two Chinese-invested lithium companies that have already established beneficiation capacity -- Prospect Lithium Zimbabwe (PLZ) and Bikita Minerals -- to provide sufficient processing capacity to the other companies.
"We can't expect everybody to come up with a lithium concentrator, it's expensive," Ncube said. "So they should sign MoUs with PLZ and Bikita Minerals. To us that will be adequate for as long as they will process their throughput through those two companies," he added.
He said for now, the Zimbabwean government is sticking to the 2027 deadline.
Zimbabwe has the largest lithium reserves in Africa. Due to growing global demand for the mineral which is critical in the new energy drive, the country has witnessed huge investments in the lithium sector in recent years. ■
