Zimbabwe is shifting away from exporting raw minerals as it seeks to retain more value from its vast natural resources.
President Emmerson Mnangagwa says the country wants to move away from foreign investments that extract minerals without creating enough local value.
A lithium sulphate plant in Goromonzi is at the centre of Zimbabwe’s push to process minerals domestically.
The strategy aims to turn raw materials into higher-value products, including components for rechargeable batteries and solar panels.
The restrictions will extend beyond lithium, with 13 other critical minerals set to face tighter controls on foreign extraction from next year.
The government also plans to reserve the gold sector for indigenous Zimbabweans and locally owned companies.
The policy has already attracted more than $1 billion in domestic investment focused on adding value to the country’s mineral wealth.
Zimbabwe says it would rather keep its finite resources underground than allow foreign companies to extract them without strengthening the country’s economic future.
