Chinese multinational corporations have invested at least US$1.5 billion into Zimbabwe’s rapidly expanding lithium mining sector. This strategic investment aims to secure resources for Beijing’s electric vehicle (EV) manufacturing plants, according to Zhou Ding, China’s ambassador to Zimbabwe. Lithium has become the latest mineral to attract significant Chinese investment, joining other valuable assets such as chrome and gold. Chinese companies have been central to Zimbabwe’s infrastructure reconstruction, undertaking projects to build roads, airports, dams, and power facilities worth billions of dollars. The substantial investments in lithium mining position Zimbabwe as a crucial supplier for China’s electric vehicle (EV) industry. Lithium, a key component in EV battery production, is increasingly important as the global EV market grows. Ambassador Zhou Ding emphasized the significance of Zimbabwean lithium on the global stage during the Zimbabwe-China Business Forum in Harare last week.
Chinese companies have invested over US$1.5 billion in Zimbabwe’s lithium mining sector, positioning the country as a significant contributor to the global new energy production and supply chain. Ambassador Zhou Ding highlighted the crucial role of Chinese private sector investments in boosting Zimbabwe’s economy. Notably, three Chinese government-linked firms—Sinomine Resource Group Co Limited, Zhejiang Huayou Cobalt Company Ltd, and Suzhou TA&A Ultra Clean Technology Co Limited—have taken control of most of Zimbabwe’s lithium mines.
