https://en.sputniknews.africa/20230703/africa-may-increase-lithium-production-more-than-30-fold-by-2027-1060310937.html
Africa May Increase Lithium Production More Than 30-Fold by 2027
Africa May Increase Lithium Production More Than 30-Fold by 2027
Sputnik Africa
Over the past two years, lithium, a crucial component of batteries used in numerous modern devices, has increased in price by around 1,100%. Against this... 03.07.2023, Sputnik Africa
2023-07-03T18:45+0200
2023-07-03T18:45+0200
2023-08-03T10:44+0200
sub-saharan africa
mining
china
democratic republic of the congo (drc)
mali
zimbabwe
minerals
economy
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It is expected that mines across the continent will increase production of lithium by more than 30 times from last year’s volume by 2027, media has reported, citing forecasts by the S&P Global Commodity Insights agency. According to the agency, such an increase is attributed to large foreign investments that will be attracted to the industry in several African countries. It was noted that within a period of about 4 years, the export of lithium raw materials from Africa will reach 12% of the world's overall supplies, up from 1% in 2022.Mali, the Democratic Republic of the Congo and Zimbabwe are expected to become the largest suppliers of lithium on the continent.Rare-earth elements such as lithium, cobalt and nickel are essential for battery production. China and the United States are actively investing in the development of these metals in Africa. In particular, the agency noted, Chinese companies own several mines in Zimbabwe, Mali, the Democratic Republic of the Congo (DRC) and Ethiopia. According to Jackson, investing in new regions is crucial for China's supply chain to keep up with demand from its manufacturers.Alice Yu, a metals and mining analyst at S&P Global Commodity Insights, for her part, stated that the US is also exploring options to supply raw materials from Africa, but so far has only a few tentative plans, including cooperation agreements with the DRC and Zambia. At the same time, countries such as Zimbabwe and Namibia, following the example of other states across the world, already started to introduce restrictive measures on the export of lithium ore. In December last year, Zimbabwe imposed a ban on raw lithium exports in an effort to combat smuggling and promote domestic lithium processing. The country's government announced that it was losing €1.7 billion by exporting the mineral unprocessed.
https://en.sputniknews.africa/20230526/from-gold-to-diamonds-africas-top-10-mineral-producing-nations-in-2022-1059501587.html
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mining, china, democratic republic of the congo (drc), mali, zimbabwe, minerals, economy
mining, china, democratic republic of the congo (drc), mali, zimbabwe, minerals, economy
Africa May Increase Lithium Production More Than 30-Fold by 2027
18:45 03.07.2023 (Updated: 10:44 03.08.2023) Over the past two years, lithium, a crucial component of batteries used in numerous modern devices, has increased in price by around 1,100%. Against this backdrop, lithium-rich African countries embarked on developing new mines and creating their own lithium refining and processing industries.
It is expected that mines across the continent will increase production of lithium by more than 30 times from last year’s volume by 2027, media has reported, citing forecasts by the S&P Global Commodity Insights agency.
According to the agency, such an increase is attributed to large foreign investments that will be attracted to the industry in several
African countries. It was noted that within a period of about 4 years, the export of lithium raw materials from Africa will reach 12% of the world's overall supplies, up from 1% in 2022.
Mali, the Democratic Republic of the Congo and Zimbabwe are expected to become the largest suppliers of lithium on the continent.
Rare-earth elements such as lithium, cobalt and nickel are essential for battery production. China and the United States are actively investing in the development of these metals in Africa. In particular, the agency noted, Chinese companies own several mines in Zimbabwe, Mali, the Democratic Republic of the Congo (DRC) and Ethiopia.
"Chinese investment in Africa is definitely the largest source of capital for battery material supply in recent years," Martin Jackson, London-based head of battery raw materials at CRU Group, told media.
According to Jackson, investing in new regions is crucial for China's supply chain to keep up with demand from its manufacturers.
Alice Yu, a metals and
mining analyst at S&P Global Commodity Insights, for her part, stated that the US is also exploring options to supply raw materials from Africa, but so far has only a few tentative plans, including cooperation agreements with
the DRC and Zambia.
At the same time, countries such as Zimbabwe and Namibia, following the example of other states across the world, already started to introduce
restrictive measures on the export of lithium ore. In December last year, Zimbabwe imposed a ban on raw lithium exports in an effort to combat smuggling and promote domestic lithium processing. The country's government announced that it was losing €1.7 billion by exporting the mineral unprocessed.
