Global demand for critical minerals is projected to grow three-fold by 2040, presenting a strategic opportunity for African producers including Zimbabwe to increase output and the development of untapped mineral deposits.
Zimbabwe has been working to grow mining to a US$12 billion industry, supported by its vast mineral resources especially gold, platinum, lithium and ferrochrome, which should anchor economic upturn and the country's Vision 2030 of becoming an upper middle-income economy.
In Ghana, Australian firm Atlantic Lithium announced a US$185 million investment into a lithium processing plant at the Ewoyaa Lithium project in 2023 while China's Ganfeng Lithium has increased its stake in phase one of Mali's Goulamina Lithium project and will start production at the project's spodumene mine this year.
"Similar policies have been implemented in Zimbabwe, Mali and Ghana, and have already led to the development of infrastructure across the mining value chain," added ECP.
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