Zimbabwe has banned the export of unbeneficiated base mineral ores. The statutory instrument comes shortly after the banning of the export of raw lithium. The term unbeneficiated “base mineral ore” means any ore which has not yet undergone any form of processing.
The ban on the export of lithium in its raw form comes at a time when there is a rise in the demand for the mineral. The mineral is used in the manufacturing of electric vehicles, batteries and other gadgets which are used widely across the world. Zimbabwe is estimated to have the largest unexploited reserve of lithium in Africa and the sixth largest producer in the world.
The benefit of such an instrument is seen in the investment that external players will have to bring into the country as they now have to set up local processing plants. This would mean the extension of our industrial sector since we will now join the countries that have lithium processing plants.
Raw materials fetch low prices in the global market so having a local processing plant would put Zimbabwe at an advantage in relation to selling at a higher price. How beneficial do you think the instrument will be for the Zimbabwean economy?
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