Zimbabwe opens investment drive for mineral processing after raw export ban

Zimbabwe’s Vice President Constantino Chiwenga used the keynote address at the 2026 Zimbabwe International Trade Fair in Bulawayo this week to invite foreign investors into the country’s mineral processing and refining sector, following cabinet’s recent approval of a comprehensive ban on raw mineral exports.

The ban covers all raw minerals and lithium concentrates. Chiwenga declared that “the era of exporting raw resources without meaningful domestic benefit must give way to a new phase of in-country value addition, industrialisation and manufacturing.” Zimbabwe holds Africa’s largest lithium reserves and exported more than 1.1 million metric tonnes of lithium-bearing spodumene concentrate in 2025, the majority to China for processing into battery-grade materials.

The ban was initially scheduled to take effect in January 2027 but was brought forward earlier this year amid government concerns about export leakages and compliance gaps. Critics have noted structural obstacles to the policy’s success: Zimbabwe’s chronic electricity shortages, skills deficits, and the high capital costs of processing infrastructure make domestic beneficiation financially challenging. Chinese mining firms including Zhejiang Huayou Cobalt and Sinomine have made significant investments in the country, with Huayou building a $400 million plant to process lithium concentrates into lithium sulphate.

Whether more foreign capital follows will depend heavily on the government’s ability to provide reliable energy and a consistent regulatory environment.