Zimbabwe to Ban Lithium Concentrate Exports from 2027

Zimbabwe lithium Mining

Government Push for Domestic Processing

Zimbabwe will impose a ban on lithium concentrate exports starting 1 January 2027, according to mines minister Winston Chitando. The policy follows a 2022 ban on raw ore exports and seeks to encourage investment in local processing facilities and battery material plants. Zimbabwe holds Africa’s largest lithium reserves, with Chinese firms already dominating its mining sector.

Two new plants, backed by Sinomine and Zhejiang Huayou Cobalt, are under construction and expected to begin operations in 2027. These facilities will produce lithium sulphate, a key intermediate that can be refined into battery-grade lithium hydroxide or lithium carbonate.

Chinese Investment and Global Market Implications

Chinese companies remain committed to Zimbabwe’s lithium sector despite lithium prices falling nearly 90% since 2022. This long-term strategy reflects Beijing’s broader effort to secure critical minerals for its electric vehicle and energy storage industries. The upcoming export ban will strengthen Zimbabwe’s role in global lithium supply chains by shifting the country toward value-added production.

Zimbabwe’s policy aligns with a growing African trend of restricting raw mineral exports to promote domestic industrialization. For instance, Gabon recently announced a manganese ore export ban from 2029, while Guinea, Mali, Tanzania, and the DRC have implemented similar measures for bauxite, gold, and cobalt.

Strategic Positioning in the Global Battery Market

By enforcing the lithium concentrate export ban, Zimbabwe is positioning itself as a future hub for processed battery materials rather than a raw material supplier. This policy could attract further downstream investment while also reshaping trade flows, especially for EV and renewable energy supply chains. However, success will depend on whether domestic refining capacity can keep pace with rising demand.

The Metalnomist Commentary

Zimbabwe’s lithium export ban signals a decisive shift toward resource nationalism and value-added production. For global supply chains, this move underscores Africa’s emerging role in shaping critical mineral strategies. Investors and downstream users must adapt to a future where raw materials are less available, but refined products become central to supply security.

Zimplats PGM Output Drops Sharply in Q4 Amid Power Disruptions

Zimplats PGM

Zimbabwe’s largest platinum group metals (PGMs) producer, Zimplats, experienced a significant drop in production during the October–December quarter. The company reported a 21% year-on-year decline in total 6E PGM output, totaling 129,536 ounces. This decrease affected all six metals in the group: platinum, palladium, rhodium, iridium, ruthenium, and osmium.

Platinum and Palladium Production See Major Declines

Platinum output dropped by 19% to 60,720 oz, while palladium production fell by 21% to 49,820 oz. Rhodium output decreased by 15%, totaling 5,301 oz. The company also saw a 30% decline in ruthenium output and a 31% drop in iridium production. Power supply interruptions across mining operations led to an 8% decrease in ore mined and milled volumes.

Rising Costs Add Pressure to Zimplats' Margins

In addition to lower production, Zimplats faced rising operational costs. Power prices contributed to a 3% year-on-year increase in operating expenses. As the largest PGM producer in Zimbabwe, Zimplats’ performance often reflects broader trends in the country's mining sector. This downturn underscores the critical impact of energy stability on metal output.

Given Zimbabwe’s strategic role in global PGM supply, disruptions at Zimplats could influence short-term price movements in the international market. Analysts will closely monitor the company’s performance in the upcoming quarters, especially in relation to power reliability and cost controls.

Sibanye-Stillwater Sees Mixed PGM Output in 2024: US Down, Africa Up

Sibanye-Stillwater

US Operations Cut Output as Africa and Zimbabwe Deliver Gains

Restructuring and Metal Prices Shape Production Strategy

Sibanye-Stillwater, the South African platinum group metals (PGM) major, reported a slight decline in US PGM output in 2024 but growth in South Africa and Zimbabwe. The company’s US Stillwater and East Boulder mines produced 425,842oz of 2E PGMs for the year, down less than 1% year-on-year. In the last six months of 2024, US production dropped by 15.4% as Sibanye focused on lowering costs amid challenging metal prices.

Cost Management and US Restructuring Drive Changes

The average 2E PGM basket price in the US fell below the all-in sustaining cost, prompting Sibanye to restructure. The company put the Stillwater West mine on care and maintenance, while East Boulder and Stillwater East mines saw reduced output. Despite lower mine volumes, PGM recycling at the Columbus metallurgical complex rose by 2% to 316,470oz for 2024, including a 9.2% increase in the second half.

African and Australian Operations Report Output Increases

In South Africa and Zimbabwe, Sibanye’s 4E PGM production rose by 4.2% in H2 2024 and 4% for the full year, reaching 1.74 million ounces. Key operations are located in the Bushveld Complex, Kroondal, Rustenburg, Marikana, and Mimosa. Beyond PGMs, nickel output at the Sandouville refinery in France climbed 8.1% to 7,705 tonnes, and zinc production at Australia’s Century site increased by 8% to 82,000 tonnes.

Sibanye’s regional flexibility, ongoing cost discipline, and diversified asset base position the company to navigate volatile PGM prices and evolving market conditions.

Chengxin Lithium Secures License for Asia's Largest Lithium Deposit in Sichuan

Yajiang County Huilong Mining

Yajiang County Huilong Mining, a subsidiary of Chengxin Lithium, has obtained a mining license for the Murong lithium mine in Yajiang County, Sichuan Province, China. The license, effective until 2048, grants access to a resource of 61.095 million tons with an average grade of 1.62% lithium oxide, equivalent to 989,600 tons of lithium oxide. This positions Murong as one of Asia's largest hard rock monomer lithium deposits, with an annual production capacity of 3 million tons of ore.

Expanding Lithium Production Amid Rising Demand

In 2023, Chengxin Lithium increased its lithium salt production—primarily lithium carbonate and lithium hydroxide—to 56,700 tons, marking a 19% year-on-year growth. Sales rose by 11% to 52,900 tons, reflecting growing global demand for lithium-driven by electric vehicles and renewable energy storage solutions.

Chengxin's total production capacity now stands at 137,000 tons per year, with 77,000 tons sourced domestically from China and 60,000 tons produced in Indonesia. To diversify its feedstock, the company also taps its Sabi Star lithium mine in Zimbabwe, which contributes 200,000 tons annually of concentrate.

A Strategic Advantage for Chengxin and China

The Murong lithium mine acquisition strengthens Chengxin Lithium's foothold in the global lithium supply chain, critical for battery production and clean energy transition. This move aligns with China's strategy to secure domestic and international lithium resources, ensuring its leadership in the EV and energy storage markets.

Key Takeaways

Murong Lithium Mine: One of Asia's largest hard rock lithium deposits with high-grade lithium oxide reserves.

Production Growth: Chengxin's lithium salt production surged by 19% in 2023.

Global Supply Chain: Significant contributions from China, Indonesia, and Zimbabwe bolster Chengxin's raw material security.

With rising EV adoption and renewable energy investments, Chengxin's latest acquisition underscores its pivotal role in powering a sustainable future.

Sinomine Resource Slows Lithium Ore Production at Zimbabwe’s Bikita Mine Amid Price Fluctuations

Sinomine Resource

Sinomine Resource, China’s leading lithium mining company, has partially suspended production at its Bikita petalite ore mine in Zimbabwe. The decision reflects falling lithium prices, which have significantly reduced profitability at the 2 million-tonne-per-year petalite site, the company reported. Operations involving other materials at Bikita remain ongoing, with spodumene concentrate production meeting Sinomine’s lithium smelting needs.

Falling Lithium Prices Force Adjustments

Bikita, capable of processing 2 million tonnes each of spodumene and petalite ore since its November 2023 expansion, is fully owned by Sinomine Resource. The site holds resources equivalent to 1.1679 million tonnes of lithium oxide, translating to 2.88 million tonnes of lithium carbonate equivalent (LCE). Earlier this year, Sinomine outlined plans to increase Bikita's output to full capacity, targeting 600,000 tonnes of lithium concentrate in 2024 — evenly split between spodumene and petalite.

The global lithium market has faced downward price pressures as new production capacity, especially in the battery-grade segment, has outpaced demand. Sinomine noted that Metalnomist-assessed prices for 6% lithium concentrate (spodumene) were recorded at $750-820 per tonne (cif China) as of October 8, reflecting an 86% drop from the beginning of 2023.

Despite the price slump, Sinomine remains committed to its strategic resource management at Bikita, having delivered an initial 10,000-tonne batch of lithium concentrate to its lithium salt production lines in China in September 2023. However, future expansion will be closely aligned with price stabilization in the global lithium market.

Implats to Record $1 Billion Write-Down Due to Declining Metal Prices

Impala Platinum (Implats), a South African mining firm specializing in platinum group metals (PGMs), announced a substantial write-down of $1.08 billion in its metal assets. This write-down, equivalent to 19.8 billion rand, is attributed to declining metal prices, particularly rhodium and palladium, during its financial year ending June 30.

Rhodium prices fell 61% year-over-year to $4,441 per troy ounce, while palladium dropped 39% to $1,090 per troy ounce. Despite a 21% increase in 6E PGM production, largely due to the addition of Impala Bakofeng, Implats' revenues were hit hard by the price slump. Although sales volumes rose by 16%, the lower prices led to a 34% drop in sales revenue per 6E ounce.

The company also faced challenges with power generation disruptions in Zimbabwe, further impacting its operations. In response to the persistent low prices, Implats announced potential job cuts of up to 3,900 positions, representing 9% of its workforce.

Anglo American Reports 3Q Decline in Copper Output but Revises Nickel and PGM Guidance Upwards

Anglo American

Anglo American, the UK-South African mining giant, experienced a 13% year-on-year decline in copper production during the third quarter of 2024, with output falling to 181,000 tons. The decrease was primarily attributed to reduced production at its mines in Chile and Peru.

Copper Production Highlights

• Peru’s Quellaveco Mine: Output fell 21% to 68,700 tons due to lower grades and recoveries. Production is expected to rebound in the fourth quarter.
• Chilean Operations: Output dropped 7% to 112,600 tons, driven by the planned closure of the Los Bronces plant in July, where production fell 20%. However, higher grades at El Soldado boosted output by 16%, partially offsetting the losses.

Total copper production for the year to date reached 575,000 tons, down 4% year-on-year. The company remains on track to meet its full-year production guidance of 730,000-790,000 tons, split between 430,000-460,000 tons from Chile and 300,000-330,000 tons from Peru.

Platinum Group Metals (PGMs) Performance

• PGMs in Concentrate: Production dropped 10% to 922,000 ounces due to lower output at South Africa’s Mogalakwena and Amandelbult mines. Higher production at Zimbabwe’s Unki mine partially offset these declines.
• Refined PGMs: Production rose 22% to 1.11 million ounces, supported by stability in processing operations.

Anglo American revised its full-year refined PGM production guidance upward to 3.7-3.9 million ounces, from the earlier estimate of 3.3-3.7 million ounces.

Nickel Production Trends

Nickel output increased 6% to 9,900 tons during the quarter, driven by operational improvements at the Barro Alto plant in Brazil. Year-to-date nickel production reached 28,900 tons, up 2%.

The company raised its full-year nickel production guidance to 38,000-39,000 tons, up from its earlier range of 36,000-38,000 tons.

Outlook

Anglo American’s diversified portfolio continues to offset challenges in copper production with strong performance in nickel and PGMs. While facing difficulties in its copper operations, the upward revisions in nickel and PGM guidance underscore the company’s adaptability and operational resilience.

Anglo American Faces Decline in Copper, Nickel, and PGM Output in 2024

Anglo American

Decreased Production from Chile, Peru, and South Africa Affects Key Metals

Anglo American, the UK-South African mining giant, reported a drop in its copper, nickel, and platinum group metals (PGMs) output for 2024. This decline, particularly from its assets in Chile, Peru, and South Africa, reflects challenges faced in production and ongoing operational adjustments.

Copper Production Decline Driven by Chile and Peru

Anglo American’s total copper output for 2024 decreased by 6%, reaching 772,700 tonnes. Copper production in Chile dropped by 8% to 466,400 tonnes, with a 20% decline at the Los Bronces mine, which was placed on care and maintenance in July. Additionally, production at the Collahuasi mine fell by 3%, though higher grades at El Soldado partially offset these declines, with a 22% output increase.

In Peru, the Quellaveco mine saw a 4% reduction in copper output to 306,300 tonnes, due to lower grades and recoveries. Anglo American’s Q4 copper output also saw a notable drop, decreasing by 14% to 197,500 tonnes compared to the previous year.

Looking ahead, the company projects copper production to range between 690,000 and 750,000 tonnes in 2025, with an expectation of increasing production to 760,000 to 820,000 tonnes in 2026 and 2027.

Nickel and PGM Production Challenges

Nickel output for Anglo American fell by 2% in 2024, totaling 39,400 tonnes. A 13% drop in production at the Codemin site in Brazil was partially offset by a 2% increase at the Barro Alto plant due to operational improvements. In Q4, nickel production declined by 10%, amounting to 10,000 tonnes, primarily due to planned lower grades.

The company also faced a 7% decline in PGM production from its operations, including mines in South Africa and Zimbabwe. Full-year production of PGMs in concentrate decreased to 3.55 million ounces. However, refined PGM production rose by 3%, reaching 3.92 million ounces in 2024. In 2025, Anglo American expects to produce between 3 million and 3.4 million ounces of PGMs.

Manganese Ore Decline and Future Expectations

Anglo American’s manganese ore production fell sharply by 38% to 2.29 million tonnes in 2024. This was largely due to the suspension of Australian operations following damage caused by Tropical Cyclone Megan in March.

Despite the setbacks in 2024, the company’s projections for future production of copper, nickel, and PGMs indicate a positive outlook for 2025 and beyond, as it continues to adjust operations and focus on optimizing output at key sites.

Tharisa’s Record Chrome Output Buoys South African Metals Sector Amid PGM Price Slump

Tharisa’s

Strong Chrome Production Drives Record Output

Tharisa reported 1.7 million tons of chrome output for the fiscal year ending September 30, an 8% increase from 2023. This marks the highest chrome production in the company’s history, a feat largely attributed to strong demand from China and favorable pricing trends. The average annual price for Tharisa’s chrome concentrate rose 13.7% to $299 per ton, underscoring a robust demand environment that company executives expect to continue into 2025.

“With chrome commanding a strong operational outlook, we anticipate real demand growth both in China and globally,” said Tharisa’s CEO Phoevos Pouroulis. The company’s 2025 production guidance reflects this optimism, setting targets between 1.65 million and 1.8 million tons of chrome.

Platinum Group Metals Face Price Pressures

In contrast to chrome’s positive trajectory, PGM production remained relatively flat, reaching 145,100 ounces, a slight 0.3% increase from last year. However, PGM prices fell sharply as demand lagged, dropping 28% year-on-year to $1,362 per ounce. Tharisa attributes this to post-pandemic inventory surpluses, which continue to impact the market.

The price downturn has prompted Tharisa to re-evaluate its PGM investments. Earlier this year, Tharisa slowed the development of its Karo platinum project in Zimbabwe, a move intended to conserve capital amid unfavorable pricing conditions. Despite this, the company reported progress in the Karo project’s construction, aligning it with capital availability as they monitor market conditions.

Looking ahead, Tharisa has set its 2025 guidance for PGM production between 140,000 and 160,000 ounces. The company remains cautiously optimistic, emphasizing the importance of balancing chrome and PGM outputs in light of ongoing price volatility.

Ganfeng Lithium Begins Production of Spodumene Concentrate at Goulamina Mine in Mali

Ganfeng Lithium

Ganfeng Lithium, one of the world's leading producers of lithium, has officially started producing spodumene concentrate at its Goulamina lithium mine in Mali. This marks a significant step in the development of the mine, which is being constructed in two phases. The first phase, which began in 2022, has a production capacity of 506,000 tonnes per year (t/yr) of spodumene concentrate, with commercial production starting on December 15, 2024. The second phase, when completed, will raise the total capacity to 1 million t/yr.

Goulamina Lithium Mine: A Major Step for Ganfeng's Global Lithium Supply

The Goulamina project is one of Ganfeng's key international investments, located in Mali, a country that is becoming increasingly significant in the global lithium supply chain. The mine has a total resource base of 7.14 million tonnes (mn t) of lithium carbonate equivalent (LCE), with an average grade of 1.37% lithium oxide (Li2O), a quality that positions it as a key source of lithium in the coming years.

As part of its development, Ganfeng has announced that its wholly owned subsidiary Lithium du Mali SA (LMSA) holds a 100% stake in the project. However, in a move to strengthen its relationship with the host nation, Ganfeng will transfer a 35% stake in LMSA to the Mali government. This will see the government receive 10% of the stake for free, while the remaining 25% will be acquired for approximately $32 million.

Expanding Ganfeng’s Global Lithium Portfolio

Ganfeng Lithium is investing heavily in lithium extraction from both spodumene ore and brine sources across the globe. In addition to the Goulamina mine, Ganfeng has major operations in Australia, Argentina, Mexico, Ireland, and China. The company is also ramping up its Cauchari-Olaroz project in Argentina, which boasts an annual 40,000 t/yr capacity for lithium carbonate production.

The move to secure assets in Africa is part of a broader trend among Chinese lithium producers, who are increasingly looking to diversify their supply chains. Companies such as Huayou, Sinomine, Chengxin, and Yahua have been sending shipments from their Zimbabwe-based mines to lithium refineries in China, highlighting the growing importance of African countries as key players in the global lithium market.

Strategic Implications for Global Lithium Markets

Ganfeng’s investment in Mali and its expanding operations across Africa signal an ongoing shift in the global lithium mining landscape, with Chinese firms increasingly focusing on securing access to critical resources outside traditional markets like Australia and South America. As demand for lithium continues to surge, driven by the rapid growth of electric vehicles (EVs) and renewable energy storage solutions, these strategic moves will play a pivotal role in shaping the future of the lithium supply chain.

Yahua Terminates Finniss Lithium Offtake Deal with Core Lithium Following Project Suspension

Yahua Lithium

Chinese lithium producer Yahua terminated its spodumene offtake agreement with Australia's Core Lithium for the suspended Finniss project operations. The Yahua Finniss lithium deal termination follows Core Lithium's decision to halt operations at the Australian project in July 2024. Core Lithium agreed to pay Yahua a $2 million settlement to resolve the contractual obligations under the original 2019 offtake agreement for the Yahua Finniss lithium supply arrangement.

Original Offtake Agreement Targeted 75,000 Tonnes Annual Spodumene Supply

The terminated offtake agreement required Yahua to purchase at least 75,000 metric tonnes per year of spodumene concentrate from Core Lithium's Finniss project. The parties signed this long-term supply contract in 2019 when lithium market fundamentals appeared more favorable for Australian project development. However, the Finniss project faced operational challenges and market headwinds that ultimately led to the suspension of mining activities.

Core Lithium's decision to halt operations reflects broader challenges facing Australian lithium projects amid volatile pricing and operational complexities. The $2 million settlement payment compensates Yahua for the terminated supply relationship while releasing both parties from future contractual obligations. Meanwhile, the Yahua Finniss lithium deal termination demonstrates the risks facing long-term offtake agreements when projects encounter operational difficulties.

Diversified Supply Strategy Shields Yahua from Feedstock Disruption

Yahua emphasized that the Finniss project termination will not affect its lithium feedstock supply security due to diversified sourcing strategies. The Chinese lithium producer owns the Kamativi lithium assets in Zimbabwe, providing direct control over spodumene production and processing operations. As a result, this backward integration strategy reduces Yahua's dependence on third-party Australian suppliers for critical lithium raw materials.

The company maintains additional supply agreements with established lithium miners including Australia's Pilbara Minerals and other global producers. These diversified supply relationships ensure consistent feedstock availability despite individual project disruptions or market volatility. Therefore, Yahua's multi-sourced approach provides operational flexibility and supply chain resilience across different geographic regions and mining operations.

Yahua's response to the Finniss project termination highlights the importance of supply diversification in the volatile lithium market. Chinese lithium processors increasingly pursue backward integration strategies and multiple supplier relationships to manage supply risks. Consequently, the Yahua Finniss lithium deal termination reinforces the strategic value of diversified sourcing approaches for lithium chemical producers.

The Metalnomist Commentary

The Yahua-Core Lithium offtake termination illustrates the fragility of long-term supply agreements in volatile commodity markets, particularly for emerging lithium projects facing operational and financial pressures. Yahua's emphasis on supply diversification through asset ownership and multiple supplier relationships reflects the evolving risk management strategies of Chinese lithium processors seeking to secure feedstock supplies amid market uncertainty and project development challenges.

Gabon Manganese Export Ban Takes Effect in 2029

Gabon Manganese Mining

Gabon announced a complete Gabon manganese export ban on unrefined ore starting January 2029. The world's second-largest manganese producer aims to boost domestic processing and industrial capacity. This transformative Gabon manganese export ban follows similar African resource nationalism strategies.

Major Impact on Global Manganese Supply Chains

Gabon produces 4.6 million tonnes annually, representing 25% of global manganese output. China and the US face significant supply disruptions from this policy change. Meanwhile, the US imported 63% of its manganese from Gabon last year. The ban threatens established supply chains for steel and battery industries worldwide.

French mining giant Eramet, through subsidiary Comilog, dominates Gabon's manganese sector. The company operates existing downstream facilities producing silico-manganese and manganese metal. However, current utilization remains low with only 18,000 tonnes exported in 2024. Comilog employs over 3,300 people locally, making workforce considerations critical.

African Resource Nationalism Accelerates

Several African nations now restrict raw material exports to capture value domestically. Guinea banned bauxite exports while Zimbabwe restricted lithium ore shipments recently. Furthermore, Mali and Tanzania implemented gold export restrictions this year. Therefore, the Gabon manganese export ban represents broader continental industrial ambitions.

President Brice Oligui Nguema emphasizes increased state revenues through downstream processing. Moreover, this strategy requires massive investment in new manganese alloy production capacity. As a result, international miners must develop processing plants or exit Gabon entirely. The five-year transition period allows stakeholders to adjust operations accordingly.

The Metalnomist Commentary

Gabon's 2029 manganese export ban creates immediate pressure on Western supply chains already strained by geopolitical tensions. With China controlling most manganese processing capacity globally, this move could paradoxically strengthen Beijing's market position unless Western nations rapidly develop alternative processing hubs. Eramet's underutilized facilities suggest the technical and economic challenges of African beneficiation remain substantial.

Huayou Cobalt Reports Surge in Nickel and Cobalt Shipments Amidst Expanding Global Demand

In a strong showing for the first half of 2024, Huayou Cobalt, one of China's leading producers of battery materials and metals, reported significant increases in shipments of cobalt, nickel, and lithium-ion battery precursors. The company disclosed that its cobalt shipments rose by 13% year-on-year, reaching 23,000 tons from January to June. Nickel shipments saw an even more substantial rise, increasing by over 40% to 76,000 tons during the same period. These figures also account for materials used internally.

Shipments of lithium-ion battery precursors, which include ternary precursors and cobalt tetroxide, grew by 11% to 67,000 tons. However, shipments of cathode active material (CAM) slightly declined to 53,000 tons. Additionally, Huayou shipped over 100 tons of sodium-ion battery precursors in the first half of the year.

The company attributed the strong demand for its products to robust downstream segments. Industry data cited by Huayou revealed a 15% year-on-year increase in global power battery installations, totaling 346 GWh for the first half of the year. Despite this, China's production of ternary CAM slightly dipped by 1% to 300,000 tons, as lithium iron phosphate batteries dominated the market due to lower manufacturing costs. However, the adoption of high-nickel ternary batteries is anticipated to gain momentum, likely driving further demand for nickel-based materials.

The consumer electronics sector also showed signs of recovery during the same period. Global shipments of smartphones and personal computers rose by 11% and 5.5%, respectively, reaching 585 million and 120 million units.

Huayou's international projects continue to show progress. The Huafei project in Indonesia, with an annual capacity of 120,000 tons of nickel metal equivalent, reached its design capacity by the end of Q1. The Huayue project, also in Indonesia, and the Huake nickel matte project maintained stable production. Huayou is advancing key nickel projects in partnership with Ford and Vale in Indonesia. Additionally, the company’s 50,000 tons/year lithium salts plant in Guangxi province, China, has reached full capacity, supported by feedstock from the Arcadia mine in Zimbabwe.

Huayou is also expanding its global footprint with the construction of a 50,000 tons/year ternary precursor project in Indonesia and a 25,000 tons/year ternary CAM project in Hungary.