Latest news with #Sinomine
Yahoo
12 hours ago
- Business
- Yahoo
Zimbabwe lithium exports soar 30% in H1 2025, defying price slump
Zimbabwe has reported a 30% surge in spodumene concentrate exports in the first half of 2025, despite a significant drop in global lithium prices, reported Reuters, based on statistics from the Minerals Marketing Corporation of Zimbabwe (MMCZ). The country, Africa's leading lithium producer, exported 586,197 tonnes (t) of the lithium-bearing mineral between January and June, compared to 451,824t during the same period in the previous year. Prices of lithium, a critical component of renewable energy technology batteries, have plummeted by nearly 90% over the past two years, primarily due to oversupply. However, producers remain optimistic about the long-term prospects of the metal, given the global shift towards cleaner energy and electric vehicles. MMCZ said: "A notable market contradiction was observed in the lithium sector, where prices declined despite a continuous rise in demand for lithium metal." The prices are expected to improve in the medium term. Chinese companies such as Zhejiang Huayou Cobalt, Sinomine, Chengxin Lithium Group, Yahua Group and Tsingshan hold a dominant position in Zimbabwe's lithium mining industry. These companies have collectively invested more than $1.4bn (10.05bn yuan) since 2021 to acquire and develop lithium assets in the country, as per MMCZ. Last month, Reuters reported that Zimbabwe plans to ban the export of lithium concentrates, starting from 2027, to encourage local processing. Huayou, which exported 400,000t of lithium concentrate from Zimbabwe in 2024, has commenced the construction of a lithium sulphate plant within the country, with an annual capacity of 50,000t. Similarly, Sinomine has revealed its intention to construct a $500m lithium sulphate plant at its Bikita mine in Zimbabwe. Lithium sulphate is an essential intermediate product that can be refined into battery-grade materials such as lithium hydroxide or lithium carbonate, which are crucial in battery manufacturing. "Zimbabwe lithium exports soar 30% in H1 2025, defying price slump" was originally created and published by Mining Technology, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Reuters
2 days ago
- Business
- Reuters
Zimbabwe's spodumene exports surge 30% despite weak lithium prices
HARARE, July 21 (Reuters) - Zimbabwe's exports of spodumene concentrate, a lithium-bearing mineral essential for battery production, surged 30% in the first half of 2025 despite weak global lithium prices, official statistics show. Africa's top lithium producer exported 586,197 metric tons of spodumene concentrate between January and June, compared to 451,824 metric tons during the same period last year, according to statistics from the Minerals Marketing Corporation of Zimbabwe (MMCZ) obtained by Reuters on Monday. Prices of lithium - used in batteries to power renewable energy technologies - have tumbled nearly 90% over the past two years, mainly due to oversupply, but producers remain positive about the metal's long-term prospects amid a global push towards cleaner energy sources and electric vehicles. "A notable market contradiction was observed in the lithium sector, where prices declined despite a continuous rise in demand for lithium metal," Zimbabwe's state minerals marketer MMCZ said in a statement. "Lithium prices are, however, expected to improve in the medium-term," it added. China's Zhejiang Huayou Cobalt ( opens new tab, Sinomine ( opens new tab, Chengxin Lithium Group ( opens new tab, Yahua Group ( opens new tab and Tsingshan dominate Zimbabwe's lithium mining, producing concentrates and shipping them to their home country. These companies have invested in excess of $1.4 billion since 2021 to acquire and develop the lithium assets, according to the MMCZ. The southern African country says it will ban the export of lithium concentrates from 2027 to promote more local processing. Huayou, which exported 400,000 tons of lithium concentrate from Zimbabwe in 2024, says it has started building a 50,000-ton per year lithium sulphate plant in the country. Sinomine has also announced plans to build a $500 million lithium sulphate plant at its Bikita mine in Zimbabwe. Lithium sulphate is an intermediate product which can be refined into a battery-grade material such as lithium hydroxide or lithium carbonate used in battery manufacturing.
Time of India
11-06-2025
- Business
- Time of India
Zimbabwe to ban export of lithium concentrates from 2027
Zimbabwe will ban the export of lithium concentrates from 2027 as it extends its push for more local processing, mines minister Winston Chitando said on Tuesday. Africa's top producer of lithium, used in batteries to power renewable energy technologies, banned the export of lithium ore in 2022 and has been pushing miners to process more domestically. Lithium miners in Zimbabwe, who are mostly from China, have been exporting concentrates to their home country. Chitando said lithium sulphate plants were currently being developed at two Zimbabwean mines, Bikita Minerals, owned by Sinomine and Prospect Lithium Zimbabwe, owned by Zhejiang Huayou Cobalt. Lithium sulphate is an intermediate product which can be refined into a battery-grade material such as lithium hydroxide or lithium carbonate used in battery manufacturing. "Because of that capacity which is now in the country, the export of all lithium concentrates will be banned from January 2027," Chitando said during a media briefing following a weekly cabinet meeting. In 2023, Zimbabwe gave lithium miners up to March 2024 to submit plans for developing local refineries, but softened its stance after prices of the metal collapsed. Sinomine and Zhejiang Huayou Cobalt are part of a group of Chinese firms, including Chengxin Lithium Group Yahua Group and Canmax Technologies, which have spent more than $1 billion since 2021 to acquire and develop lithium projects in Zimbabwe.
Reuters
10-06-2025
- Business
- Reuters
Zimbabwe to ban export of lithium concentrates from 2027
HARARE, June 10 (Reuters) - Zimbabwe will ban the export of lithium concentrates from 2027 as it extends its push for more local processing, mines minister Winston Chitando said on Tuesday. Africa's top producer of lithium, used in batteries to power renewable energy technologies, banned the export of lithium ore in 2022 and has been pushing miners to process more domestically. Lithium miners in Zimbabwe, who are mostly from China, have been exporting concentrates to their home country. Chitando said lithium sulphate plants were currently being developed at two Zimbabwean mines, Bikita Minerals, owned by Sinomine ( opens new tab and Prospect Lithium Zimbabwe, owned by Zhejiang Huayou Cobalt ( opens new tab. Lithium sulphate is an intermediate product which can be refined into a battery-grade material such as lithium hydroxide or lithium carbonate used in battery manufacturing. "Because of that capacity which is now in the country, the export of all lithium concentrates will be banned from January 2027," Chitando said during a media briefing following a weekly cabinet meeting. In 2023, Zimbabwe gave lithium miners up to March 2024 to submit plans for developing local refineries, but softened its stance after prices of the metal collapsed. Sinomine and Zhejiang Huayou Cobalt are part of a group of Chinese firms, including Chengxin Lithium Group ( opens new tab Yahua Group ( opens new tab and Canmax Technologies ( opens new tab, which have spent more than $1 billion since 2021 to acquire and develop lithium projects in Zimbabwe.
Reuters
06-06-2025
- Business
- Reuters
China's Sinomine halts Namibia copper smelter, citing concentrate shortage due to global 'overcapacity'
WINDHOEK, June 6 (Reuters) - China's Sinomine Resource Group ( opens new tab said on Friday it has temporarily paused copper smelting operations at its Tsumeb plant in Namibia, citing a shortage of concentrate following a rapid expansion in smelter capacity worldwide. Sinomine acquired the Tsumeb smelter, one of the few facilities in the world that can treat arsenic and lead-bearing copper concentrates, from Dundee Precious Metals ( opens new tab in 2024. The smelter, with capacity to process 240,000 metric tons of copper concentrate annually, has previously processed metal from countries such as Chile, Peru and Bulgaria. Global copper smelting capacity has expanded rapidly in recent years, outstripping production of the metal whose demand has been boosted by its use in renewable energy technologies, including electric vehicles. Sinomine Tsumeb Smelter CEO Loggan Lou said in a statement that increased smelting capacity in major copper-producing regions has "resulted in substantial overcapacity". "This has led to a shortage of copper concentrate, placing pressure on smelters worldwide, including Tsumeb," Lou said. Sinomine plans to upgrade the smelter to enable the commercial production of multiple critical metals and minerals. Last September, Sinomine announced that the Tsumeb Smelter contains 746 metric tons of germanium, a critical mineral essential for chipmaking, infrared technology, fibre optic cables, and solar cells. The smelter is also exploring the addition of germanium and zinc smelting lines to the smelter.
