Zimbabwe is looking to become a major player in the critical minerals market, but with a twist. In a speech yesterday at the Chamber of Mines Critical Minerals Value Chain Symposium, Minister of Mines and Mining Development, Winston Chitando, emphasized the importance of local processing over simply increasing mining output.
“The criticality of any mineral changes with time,” Minister Chitando said. “It is in this light that Government has moved to ensure maximum benefit is reaped from the exploitation of most of the stages that make up the Critical Minerals Value Chain in Zimbabwe.”
This focus on domestic processing stands in contrast to many African nations rich in critical minerals. Often, the strategy has been to attract foreign investment in large-scale mining operations. The raw materials are then exported, to be processed elsewhere.
Minister Chitando acknowledged the challenges Zimbabwe faces in developing its domestic processing capabilities. Currently, most of the world’s processing capacity is concentrated in a small number of countries. This can lead to vulnerabilities in pricing and supply.
However, the Minister outlined plans to address this challenge. The government is working on strategies to encourage the construction of refineries for critical minerals like lithium and nickel. This would allow Zimbabwe to capture more value from its resources and reduce its reliance on foreign processors.
“Realisation of these and more Value Addition projects along the Critical Minerals Value Chain will present many benefits to the people of Zimbabwe,” Minister Chitando concluded. “These include employment creation, increased revenue inflow, and less dependence on imports.”
Zimbabwe’s focus on domestic processing could be a model for other African nations looking to benefit more from their critical mineral resources.