On February 25, 2026, Zimbabwe has suspended the export of lithium concentrate and raw ore with immediate effect, a move aimed at compelling mining companies to establish processing operations within the country. The Minister of Mines announced the ban on Wednesday, stating it will remain in place until further notice.
This decision aligns with a broader trend across African nations, where governments are pushing mining companies to refine minerals locally to capture greater economic value from their natural resources. According to official data, Zimbabwe holds one of Africa’s largest lithium reserves and is a major global producer, with estimated resources totaling 126 million tonnes.
The Mining Minister indicated that the ban will only be lifted once miners comply with government requirements. The announcement follows a previous statement last year indicating an intention to prohibit lithium concentrate exports by 2027, as part of efforts to encourage foreign mining companies to develop local refining capabilities.
According to the latest report from the U.S. Geological Survey, Zimbabwe’s lithium mine production is projected to reach 28,000 tonnes (in terms of lithium content) by 2025, ranking it behind only Argentina, China, and Chile.
UBS believes the market has entered the third major lithium price super-cycle, arguing that a persistent supply-demand gap will support prices significantly above market consensus. The bank has sharply raised its 2026 spodumene price forecast by 74% to $3,131 per tonne, and its lithium carbonate forecast to $26,000 per tonne. This revision is based on expectations that electric vehicles will achieve “Purchase Parity, Usage Parity and Performance Parity” and a surge in demand for energy storage, leading UBS to project that global demand will double to 3.4 million tonnes by 2030.
Source: WeChat Official Account——起点锂电
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