Emmerson Njanjamangezi, Group Features Editor 
DEMAND for hard-rock lithium is forecast to increase 40-fold between 2022-2040, driven by global sales of electric cars and batteries, a US-based investment research firm has said.
Soaring demand for hard rock lithium coupled with firm pricing comes as a huge windfall for Zimbabwe, which holds some of the world’s largest hard rock lithium reserves and was the sixth largest lithium producer in the world in 2021, according to the US Geological Survey Data.
“Hard-rock lithium forecast to dominate global lithium supply by 2030. This comes as the market-preferred lithium product in NMC batteries, is less expensive to produce from hard-rock minerals.
“Lithium production from hard rock projects shown to be faster to market. Moreover, China has significant excess hard rock spodumene conversion capacity,” the Oregon group said in a statement.
“Global lithium production from hard rock resources currently established at 450 000 metric tonnes is expected to grow three-fold to 1,547 000 metric tonnes by 2030, from 55 percent of current production to 65 percent,” Oregon further added.
There are currently six operational hard rock lithium projects in Zimbabwe and there are more mines planned. The projects represent over US$1,4 billion of investment from Chinese mining and battery manufacturing companies over the past year. These include Sabi Star Lithium Tantalum Project, Arcadia Hard Rock Lithium Mine, Bikita Hard Rock Lithium Mine, and the Zulu Lithium Project.
Globally, there are two main types of commercial lithium, which is brines and hard rock. Brines occur mostly in the “lithium triangle” of Argentina, Chile, and Bolivia, and are extremely capital intensive, with mines typically coming into production after 6-15 years of development.
Hard rock, or pegmatites that contain the lithium-bearing mineral spodumene, now represents the majority of the global lithium supply (particularly from Australia).
Hard rock lithium mines tend to be less capital expenditure intensive and faster to produce than lithium brine operations, which require the construction of vast evaporation ponds. Hard rock lithium is perfect for an industry that needs more lithium as soon as it can be shipped.
Mining is one of Zimbabwe’s major economic sectors. It makes up 73 percent of foreign direct investment, 83 percent of exports, 19 percent of government revenue, two percent of direct formal employment, and 11 percent of national income.
The soaring demand for Zimbabwe’s lithium comes as a boost for mining authorities currently chasing a US$12 billion mining industry economy by the end of this year, underpinned by anticipated favourable international mineral prices, as well as an increase in investments, especially in exploration, mine development, and mechanisation.
Zimbabwe is expected to become one of the world’s major lithium exporters as worldwide demand rises, with the government aiming to supply 20 percent of global demand. In pursuit of that target, the government spelt out the country’s new lithium policy, which is expected to boost the key sector’s contribution to the broader economy.
The new lithium policy forbids the trade or stockpiling of raw lithium by miners without a processing plant.
Though the government recently lifted a ban on the export of raw lithium, the new lithium policy has tightened up the lithium sector.
Harare set a target of US$500 million in annual earnings for lithium in its 2019 target of a US$12 billion mining economy by the end of this year.
However, following the prohibition on raw resource exports, annual revenue of US$600 million is expected from just one processing plant, according to minister of Mines, Winston Chitando.
As the world shifts to clean energy, especially electric mobility, lithium has become a critical component in high energy-density rechargeable battery manufacture due to its high electrochemical potential.
Battery makers anticipate that lithium-ion batteries will keep dominating the industry as they are now 30 times cheaper than when they first came to the market in the early 1990s.
Minerals account for about 60 percent of the country’s export earnings, and the mining sector currently contributes 16 percent of the GDP.
newsdesk@fingaz.co.zw
