Zimbabwe has dropped a mining policy bombshell this week, immediately banning all raw mineral and lithium concentrate exports. 💥 The move comes after authorities uncovered alleged corruption and “leakages” in the sector – think smuggled minerals and underreported shipments.
Why Now?
The Ministry of Mines dropped the news Wednesday, freezing even in-transit shipments. This accelerates plans originally set for 2027, showing officials are racing to keep more mineral wealth at home. 🚫💎
From Rocks to Riches
Zimbabwe wants to transform from raw material exporter to finished product maker. Think lithium batteries instead of just lithium ore – a smart move as global EV demand revs up. 🔌⚡
Industry Shockwaves
A February 17 letter to mining companies first hinted at changes, citing “continued malpractices.” The sudden ban puts pressure on miners to build local processing plants ASAP. ⏳💼
While the policy aims to create jobs and value, some analysts warn it could temporarily spook investors. Will this make Zimbabwe the battery-making hub of Africa? The world’s watching. 👀🌐
