Zimbabwe in Alacrity to Participate in the Forthcoming Minerals Africa Summit in Cape Town South Africa

By Abdul Rahman Bangura-

Photo Credit: Word Travels

NEW AFRICA BUSINESS NEWS (NABN) Freetown, Sierra Leone-The summit evolves at a time when the world is persistently having a paradigm shift toward sustainable energy solutions, and Zimbabwe is eagerly anticipated to showcase its critical contributions to this global movement from November 6th-7th 2024.

Deputy Mines Minister Polite Kambamura would steer the Zimbabwean delegation. The country boasts a 10% share of the global lithium market, a crucial mineral for renewable energy technologies, particularly in electric vehicle batteries. Since the implementation of a raw lithium export ban in 2022, Zimbabwe has experienced a notable surge in downstream investments slated at maximizing value extraction from its lithium resources.

In addition to lithium, Zimbabwe’s platinum production has also seen a soaring in 2023. International mining firms are actively pursuing new deals to capitalize on the rising demand for platinum, largely driven by its role in green hydrogen technology. This growth in the platinum sector is anticipated to virtually contribute to Zimbabwe’s economic development, strengthening by viable partnerships and investment chances.

The global transition to green energy has further amplified the demand for copper, which is essential for electrical components and renewable energy technologies. In response, Zimbabwe is leveraging its copper resources through strategic initiatives, including the recent commissioning of a copper processing facility at Mhangura Mine. This $5 million facility, a collaborative venture between the Zimbabwe Mining Development Corporation and Chinese firm Zhi Jui Mining, has a processing capacity of 26 million tonnes of copper per year.

Moreover, the UK-based mining company Marula has lift-off a subsidiary focused on copper mining in Zimbabwe, aligning its efforts with the worldwide shift toward clean energy solutions. This development is slated to enable the nation’s potential in copper production, further supporting its ambitions in the sustainable energy sector.

As Zimbabwe fixes itself as a key player in the global critical minerals landscape, participation in the Critical Minerals Africa Summit emphasizes its venture to engaging with international stakeholders and advancing its mining sector in line with global sustainable energy goals.

For New Africa Business News (NABN) Abdul Rahman Bangura Reports, Africa Correspondent